Friday , April 16 2021
Breaking News
Home / Uncategorized / OPEC’s Oil revenues drops below $1 Trillion
OPEC’s Oil revenues drops below $1 Trillion

OPEC’s Oil revenues drops below $1 Trillion

HELSINKI: OPEC nations’ oil revenues dropped last year below the psychological $1 trillion mark for the first time since 2010, in the clearest sign yet of the economic impact of lower prices for oil-rich nations.

The Organisation of the Petroleum Exporting Countries said on Wednesday in its annual statistical report that its 12-members earned $964.6 billion selling their petroleum, down 12.7 per cent from $1.1 trillion in 2013 and the lowest amount since 2010. Oil export revenues hit a nominal record of $1.2 trillion in 2012, according to OPEC data.