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OPEC oil export revenue hits $982bln

Posted on 31 July 2013

Members of the Organisation of Petroleum Exporting Countries (OPEC), excluding Iran, recorded about $982 billion, or five per cent increase in net oil export revenue in 2012, according to recent estimates of the United States Energy Information Administration (EIA).
The Western energy watchdog noted that the amount was estimated to be the largest level over the 1975—2012 period. In its newly-released revenue fact sheet, the EIA estimated that Saudi Arabia earned the largest share of these earnings, $311 billion in 2012, or approximately 32 per cent of total OPEC revenues………………………………………..Full Article: Source


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