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

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: July 6, 2015
UAE. Business doesn't predict a plunge, London Business School survey finds; Only 3% of those surveyed expect an annual decline larger than 20%; Over a third cited a strong economic outlook.
date:Posted: July 6, 2015
INTERNATIONAL. Pretend and extend died last night, hopefully it will be replaced with a normal business cycle, normal ebbs and flows, but first politicians will try to save face by trying to do just one more round of pretend-and-extend, but the patient has died.
date:Posted: July 6, 2015
UAE. Marked slowdowns in growth of output and new business were at the forefront of the overall deceleration, while employment continued to rise at a solid pace.
INTERNATIONAL. Pretend and extend died last night, hopefully it will be replaced with a normal business cycle, normal ebbs and flows, but first politicians will try to save face by trying to do just one more round of pretend-and-extend, but the patient has died.
dhgate