Baku, Azerbaijan, May 16
By Emil Ilgar – Trend:
Iran’s oil revenues reached $18 billion during January-April 2017, the US Energy Information Administration said in its report.
OPEC’s total oil revenues stood at $179 billion during the first four months of 2017.
According to a report published on EIA’s official website May 15, Iran’s oil revenues was $29 billion and $36 billion in 2015 and 2016 respectively.
“Iran's net export revenues are not adjusted for possible price discounts the country may have offered its customers between late 2011 and January 2016, when nuclear-related sanctions targeting Iran's oil sales were in place,” the report said.
OPEC’s total net oil revenues also stood at $509 billion and $433 billion during 2015 and 2016.
OPEC’s total revenues in 2016 were the lowest since 2004.
EIA projects that OPEC net oil export revenues will rise to about $539 billion (unadjusted for inflation) in 2017.
For 2018, OPEC revenues are projected to be $595 billion, with an increase in forecast crude oil prices, coupled with higher OPEC production and exports, contributing to the rise in overall earnings.