Sunday, October 24, 2021

    OPEC 2016 Export Revenue Lowest Since 2004, EIA Says: Chart

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    Babatunde Akinsola
    Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

    OPEC members’ net oil export revenue is forecast to fall to $337.9 billion this year, a drop of 16 percent from 2015 and 55 percent from 2014, according to EIA data. That’s the lowest level since 2004 and while declining crude prices are seen as the main driver behind lower revenues since mid-2014, unplanned production outages such as those seen in Libya and Nigeria have also contributed to lower earnings, the EIA said in a report dated Aug. 26.-1x-1

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