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Commodities Briefing - Categorized | Financial, Oil, Performance more

Opec income seen at all-time high in 2012

Posted on 31 October 2012

Strong oil prices will ally with high production to boost OPEC’s crude export earnings to an all-time high of more than $one trillion in 2012 after breaking a historical record in 2011, according to official US figures The income will boost the cumulative15-year oil export earnings of the 12-nation Organization of Petroleum Exporting Countries to a whopping $6.7 trillion since 1998.
More than half the income has been achieved during 2008-2012 when oil prices were at their highest level and the organization was pumping at nearly capacity………………………………………..Full Article: Source


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