OPEC Could Earn $559B in Net Oil Export Revenues for 2009



Based on projections from the EIA September 2009 Short-Term Energy Outlook (STEO), members of the Organization of the Petroleum Exporting Countries (OPEC) could earn $559 billion of net oil export revenues in 2009 and $675 billion in 2010. Last year, OPEC earned $971 billion in net oil export revenues, a 42 percent increase from 2007. Saudi Arabia earned the largest share of these earnings, $288 billion, representing 30 percent of total OPEC revenues. On a per-capita basis, OPEC net oil export earning reached $2,688 in 2008, a 40 percent increase from 2007.


 


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