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EIA: OPEC oil income to fall 59% this year from near $1 trillion in 2008

Posted on 11 February 2009

From Easybourse.com: After rising by a record level to nearly $1 trillion last year, OPEC oil export revenues are expected to plunge by a record 58.6% this year to the lowest level since 2004, the U.S. Energy Information Administration said Tuesday.

The precipitous decline comes as OPEC has pledged deep cuts in production, but so far has failed to arrest a slide in prices and a massive building of global stockpiles….. Full Article: Source


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