Saudi Arabia's revenue from oil and petroleum products rose 48%, says OPEC
Source: BI-ME with Bloomberg , Author: Posted by BI-ME staff
Posted: Tue July 17, 2012 11:10 am
china wholesale market

Saudi Arabia’s revenue from exports of crude oil and other petroleum products jumped 48% in 2011 as shipment volumes increased over the previous year, OPEC reported.

The world’s largest crude exporter shipped oil and products valued at US$318.5 billion last year compared with US$215.4 billion in 2010, the Organization of Petroleum Exporting Countries said in its annual statistical bulletin.

Saudi exports of crude and other petroleum products rose 6.9% to an average of 8.12 million barrels a day last year, according to the data posted on OPEC’s website yesterday.

Iran, the group’s second-biggest producer after Saudi Arabia, exported crude and petroleum products valued at $114.8 billion compared with $72.2 billion in the previous year, the data showed. Iran’s revenue increased even as the volume of the nation’s shipments fell 8.5 percent, according to OPEC.

 

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: February 1, 2015
UAE. Latest report highlights need for companies to seize merger and acquisition opportunities created by lower oil prices.
date:Posted: February 1, 2015
INTERNATIONAL. January proved to be another difficult month for commodities as the trend of falling prices amid rising supply resulted in a 7th consecutive monthly fall for the Bloomberg Commodity index.
date:Posted: January 31, 2015
QATAR. In the end, monetary policy can be powerful in the short-term but is unlikely to change the long-term predicament of the Euro Area. The ECB may succeed in preventing prolonged deflation from taking hold, but this is a not a sufficient condition for sustainable growth.
dhgate