Wednesday, July 31, 2013

OPEC Is Still Making A Lot Of Money

OPEC headquarters in Vienna. Wikimedia

OPEC Exports Jump To $1.26 Trillion -- Arab News/Reuters

LONDON: OPEC’s petroleum exports jumped in value by almost 10 percent in 2012 year-on-year and the producers’ GDP climbed 12 percent, according to the group’s latest report, an income surge that looks harder to repeat this year.

The gains, announced in OPEC’s Annual Statistical Bulletin 2013, reflect record prices and steadily climbing output last year from many members of the Organization of the Petroleum Exporting Countries.
An increase in cash flow is a big advantage for producer countries.

The value of the group’s petroleum exports rose to $1.26 trillion in 2012 from $1.15 trillion in 2011, the report said, while its collective GDP at current prices amounted to $3.35 trillion, up from $3.0 trillion in 2011.

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More News On OPEC

OPEC's Oil Exports Revenue Breaks New Record But Split Deepens -- Wall Street Journal
OPEC earned $1.26 tril from oil in 2012, up from $1.15 tril in 2011 -- Platts
OPEC Oil Revenue to Decline From 2012’s Record High, EIA Says -- Bloomberg
OPEC's Oil Exports Revenue Breaks New Record -- NASDAQ
Saudi Arabian 2012 Oil Export Revenue Gained 5% as Iran Fell 12% -- Bloomberg Businessweek
US shale threatens Saudi funding crisis and demise of OPEC -- The Telegraph
Oil Giants' Reports May Fuel Saudi Prince's U.S. Fear --
Oil and Gasoline Fast Facts -- CNN

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