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Commodities Briefing - Categorized | Oil, Price Watch more

OPEC oil revenue to decline from 2012’s record high, EIA says

Posted on 23 July 2013

OPEC, excluding Iran, made $982 billion from exporting oil in 2012, the most in 38 years of data, the U.S. Energy Information Administration reported today. It forecast that sales will drop in 2013 and 2014.
Net oil-export revenue by the 12-member organization climbed 5.4 percent last year from 2011, according to the EIA, the Energy Department’s statistical arm. Sales will tumble by 4.3 percent to $940 billion this year and by 3.9 percent to $903 billion next year, the agency said………………………………………..Full Article: Source


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