US Expects Rise in OPEC Oil Revenues by 5% in 2009

Oil&Gas Materials 10 July 2008 11:04 (UTC +04:00)

Azerbaijan, Baku, 10 July/ Trend , corr A. Badalova/ Energy Information Administration of the United States forecasts rise in OPEC revenues from oil export by $71bln totaling to $1.322bln in 2009 against $2.251bln in 2008.

In January to June 2008, the oil revenues of OPEC totaled to $645bln, EIA said to Trend .

In 2007, OPEC revenues increased by 10% against 2006, EIA said. The revenues of OPEC totaled to $671bln in 2007 which is %580bln less than that of 2008, EIA said.

Saudi Arabia accounted for the greater part of the revenues - $194bln which makes up 29% of the total revenues of OPEC in 2007.

According to EIA, the total volume of OPEC oil supplies will total to 37.1mln barrels a day in 2008 against 35.42mln barrels in 2007. In 2009, the oil supply will go up slightly and will total to 37.51mln barrels a day.

The Energy Information Administration is statistics agency of the US Energy Department founded by Congress in 1977.