OPEC earns $433 bln in oil revenue in 2016 – EIA estimate

The United States Energy Information Administration estimates OPEC earned nearly $433 billion in net oil export revenues in 2016.
By Staff reporter 17 May 2017 0 25949

The United States Energy Information Administration (EIA) estimates OPEC earned nearly $433 billion in net oil export revenues in 2016, the EIA reported in its May 2017 Short-Term Energy Outlook.

The figure represents a 15% decline from the $509 billion OPEC earned in 2015, which was attributed to lower crude prices. The 2016 figure is the lowest revenue total since 2004.

The report included Iran, which the EIA omitted from editions published between 2012 and 2015.

Saudi Arabia earned the largest share of OPEC’s oil revenues...

Log in or register for a free trial to continue reading this article

Already a subscriber?

If you already have a subscription, sign in to continue reading this article.

Sign in

Not a subscriber?

To access our premium content, you or your organisation must have a paid subscription. Sign up for free trial access to demo this service. Alternatively, please call +44 (0)20 3004 6203 and one of our representatives would be happy to walk you through the service.

Sign up