OPEC Revenues Fact Sheet

Based on projections from the EIA December 2010 Short-Term Energy Outlook$750 billion of net oil export revenues in 2010 and $847 billion in 2011. Last year, OPEC earned $571 billion in net oil export revenues, a 41 percent decrease from 2008. Saudi Arabia earned the largest share of these earnings, $153 billion, representing 27 percent of total OPEC revenues. On a per-capita basis, OPEC net oil export earning reached $1,547 in 2009. (STEO), members of the Organization of the Petroleum Exporting Countries (OPEC) could earn Methodology This report includes estimates of OPEC net oil export revenues. For each country, estimates of oil production and consumption from the latest version of the STEO are used to derive net oil exports. We assume that these exports are sold at prevailing spot prices. For countries that export several different crude varieties, we assume that the proportion of total net oil exports represented by each variety is equal to the proportion of the total domestic production represented by that variety; in other words, if we assume that Arab Medium represents 20 percent of total oil production in Saudi Arabia, then we assume that Arab Medium represents 20 percent of total net oil exports from Saudi Arabia. OPEC Net Oil Export Revenues Country Nominal (Billion $) Real (Billion 2005$) 2009 2010 2011 Jan-Nov 2010 2009 2010 2011 Jan-Nov 2010 Algeria $42 - - - - $50 $38 - - - - $44 Angola $42 - - - - $50 $38 - - - - $44 Ecuador $6 - - - - $6 $5 - - - - $6 Iran $53 - - - - $64 $48 - - - - $57 Iraq $38 - - - - $43 $34 - - - - $38 Kuwait $45 - - - - $52 $40 - - - - $46 Libya $34 - - - - $39 $31 - - - - $35 Nigeria $46 - - - - $60 $41 - - - - $53 Qatar $24 - - - - $33 $21 - - - - $29 Saudi Arabia $153 - - - - $184 $137 - - - - $162 UAE $53 - - - - $61 $47 - - - - $53 Venezuela $33 - - - - $37 $30 - - - - $33 OPEC $571 $750 $847 $680 $510 $660 $731 $599 View entire series (1975-2011): nominal or real OPEC Per Capita Net Oil Export Revenues Country Nominal ($) Real (2005$) 2009 2010 2011 Jan-Nov 2010 2009 2010 2011 Jan-Nov 2010 Algeria $1,243 - - - - $1,449 $1,110 - - - - $1,276 Angola $3,291 - - - - $3,825 $2,940 - - - - $3,369 Ecuador $411 - - - - $446 $367 - - - - $392 Iran $804 - - - - $959 $719 - - - - $845 Iraq $1,305 - - - - $1,458 $1,166 - - - - $1,284 Kuwait $16,683 - - - - $18,795 $14,907 - - - - $16,552 Libya $5,418 - - - - $6,124 $4,841 - - - - $5,393 Nigeria $326 - - - - $415 $291 - - - - $365 Qatar $25,204 - - - - $34,110 $22,515 - - - - $30,034 Saudi Arabia $5,339 - - - - $6,298 $4,770 - - - - $5,546 UAE $10,955 - - - - $12,191 $9,788 - - - - $10,736 Venezuela $1,238 - - - - $1,358 $1,106 - - - - $1,196 OPEC $1,547 $1,998 $2,214 $1,814 $1,382 $1,758 $1,912 $1,598 View entire series (1975-2011): nominal or real