EIA: OPEC Could Earn $767B of Net Oil Export Revenues in 2010

Based on projections from the EIA March 2010 Short-Term Energy Outlook (STEO), members of the Organization of the Petroleum Exporting Countries (OPEC) could earn $767 billion of net oil export revenues in 2010 and $823 billion in 2011.

Last year, OPEC earned $573 billion in net oil export revenues, a 41 percent decrease from 2008. Saudi Arabia earned the largest share of these earnings, $154 billion, representing 27 percent of total OPEC revenues.

On a per-capita basis, OPEC net oil export earning reached $1,554 in 2009, a 42 percent decrease from 2008.