| Members of the Organization of the Petroleum Exporting Countries (Opec) saw their revenues from oil sales fall by $349bn last year, according to new analysis by the US Energy Information Administration (EIA).
The EIA estimates that the 13 countries of the oil cartel earned $404bn last year from oil exports, 46% less than the $753bn they earned the year before. It was the bloc’s lowest earnings since 2004. Lower export volumes played a role in the decline, but it was mainly due to the sharp fall in the price of oil which began in late 2014...............................................Full Article: Source
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