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Commodities Briefing - Categorized | Financial, Oil more

GCC oil income to peak at $608bln in 2011

Posted on 18 November 2011

A sharp increase in oil prices will ally with higher crude output to boost the collective income of Gulf hydrocarbon producers to a record high of nearly $608 billion in 2011, according to a semi official study.

The income this year will be nearly 30.7 per cent above the oil export revenue of nearly $465 billion earned by the six-nation Gulf Cooperation Council (GCC) in 2010, showed the study by the government-run Emirates Industrial Bank (EIB)……………………………………..Full Article: Source


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