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Commodities Briefing - Categorized | Oil, Price Watch more

High oil prices boost OPEC’s income to highest in 51 years

Posted on 22 December 2011

A surge in oil prices and output will likely lift OPEC’s crude export earnings this year to their highest level since the cartel was created 51 years ago, according to projections by a key western energy studies centre.
At $899 billion in 2011, the combined revenue of the 12-nation Organization of Petroleum Exporting Countries will be $249 billion above the 2010 income of around $650 billion and about $381 billion over the 2009 earnings of $518 billion………………………………………..Full Article: Source

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