OPEC Profit from Oil Export to Go up by $110bln by 2009: EIA

Oil&Gas Materials 12 September 2008 15:43 (UTC +04:00)

Azerbaijan, Baku, 12 September/ Trend , corr A. Badalova/ Energy Information Administration (EIA) of US forecasts rise in OPEC profit from export by $110bln to $1.226trln in 2009 versus $1.116trln in 2008.

OPEC profit from export of oil comprised $740bln in January to August.

According to EIA estimations, OPEC profit went up by 10% in 2007 as compared to 2006. In 1007, it made up $671bln which is $445bln less than in 2008.

In 2007, Saudi Arabia accounted for great part of profit - $194bln which comprised 29% of total OPEC profit in 2008.

According to EIA estimations, the total amount of OPEC supplies in 2008 will comprise 37.25mln barrels a day against 35.42mln barrels in 2007. The volume of supplies will increase by 0.48mln barrels a day to 37.73mln in 2009.

Energy Information Administration of US is a statistical agency of US Department on energy founded by Congress in 1977.

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