OPEC revenues from oil export in 2009 will decrease. Experts claim, the revenues may reduce by half and constitute not more than 402 billion dollars.
OPEC is said to suffer from oil price fall, the US Department of Energy report.
2008 OPEC revenue constituted 971 billion USD, that was 42% higher than the year before. In 2010, the Ministry forecast, the revenue may reach 530 billion USD.
The main revenue was provided by export to Saudi Arabia. In the meanwhile the world’s largest oil exporters revenues constituted 288 billion USD or 30% OPEC export.
You may remember that since 2008 oil price fall OPEC has several times cut oil extraction by the participating countries. In January 2009 OPEC General Secretary announced new extraction quotes decrease in case if the price will continue decelerating.
At the moment, the oil barrel on the global market constitutes 35 – 40 USD. In the middle of 2008 the oil cost reached it’s all time high level – 147 USD per barrel.
