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Commodities Briefing - Categorized | Oil, Trends more

New dimensions of international oil markets

Posted on 29 July 2013

The Organisation of Petroleum Exporting Countries (Opec) oil revenue is set to go down, suggest the US Energy Information Administraion (EIA). THe EIA noted that all Opec members excluding Iran, earned nearly $982 billion in net oil export revenues in 2012 - a 5.4 per cent increase from 2011.
After adjusting for inflation with 2005 dollars as a constant, Opec’s revenue increased by 3.2pc to $835bn in 2012, the EIA added. However, Opec’s sales revenue is now projected to tumble by 4.3pc in 2013 to $940bn and by further 3.9pc to $903bn in 2014, the EIA underlined………………………………………..Full Article: Source


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