OPEC Income to Drop by $70bln in 2009
Azerbaijan, Baku, 7 May / corr. Trend A. Badalova/ The Energy Information Agency of the US (EIA) has forecasted a drop in the income of OPEC from the export of oil by $70bln in 2009 up to $990bln, against $1.060bln in 2008.
According to EIA estimations, in 2007, the income of OPEC increased by 10% as compared to 2006. The income of OPEC totaled $674bln in 2007, which is $386bln less than the figure of 2008.
Saudi Arabia accounts for the most part of the income in 2007 - $197bln, which made up 29% of the total OPEC income in 2007.
According to EIA estimations, the oil supply of OPEC will total to 36.86mln barrels a day in 2008 against 35.43mln barrels in 2007. In 2009, the supply will go up very little and total 36.95mln barrels a day.
The Energy Information Agency is a statistics agency of the U.S. Energy Department, established by the Congress in 1977.
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