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Saudi Arabia still king of OPEC, EIA says

Posted on 24 July 2013

Saudi Arabia remains OPEC’s top oil producer in terms of net export revenues for 2012, the U.S. Energy Department said. The Energy Information Administration, the department’s analytic arm, said the Organization of the Petroleum Exporting Countries for all members except Iran earned nearly $982 billion in net oil export revenues last year. That’s a 5 percent increase from 2011.
Saudi Arabia accounted for 32 percent of the total OPEC revenues in 2012 with $311 billion, the EIA said. OPEC said in its July market report that Saudi Arabia produced 9.7 million barrels of oil per day last year, a 4.3 percent increase from 2011………………………………………..Full Article: Source


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