Based on projections from the EIA November 2009 Short-Term Energy Outlook (STEO), members of the Organization of the Petroleum Exporting Countries (OPEC) could earn $576 billion of net oil export revenues in 2009 and $750 billion in 2010. Last year, OPEC earned $966 billion in net oil export revenues, a 42 percent increase from 2007. Saudi Arabia earned the largest share of these earnings, $285 billion, representing 30 percent of total OPEC revenues. On a per-capita basis, OPEC net oil export earning reached $2,676 in 2008, a 40 percent increase from 2007.

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 EIA 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 ($B)				Real (2000$B)
	2008	2009	2010	Jan-Oct 2009	2008	2009	2010	Jan-Oct 2009
Algeria	$69	NA	NA	$33	$56	NA	NA	$26
Angola	$68	NA	NA	$33	$55	NA	NA	$26
Ecuador	$10	NA	NA	$5	$8	NA	NA	$4
Iran	$83	NA	NA	$43	$67	NA	NA	$34
Iraq	$61	NA	NA	$31	$49	NA	NA	$25
Kuwait	$79	NA	NA	$38	$64	NA	NA	$30
Libya	$57	NA	NA	$27	$46	NA	NA	$21
Nigeria	$70	NA	NA	$35	$56	NA	NA	$28
Qatar	$38	NA	NA	$19	$31	NA	NA	$15
Saudi Arabia	$285	NA	NA	$122	$231	NA	NA	$98
UAE	$87	NA	NA	$40	$70	NA	NA	$32
Venezuela	$59	NA	NA	$28	$48	NA	NA	$22
OPEC	$966	$576	$750	$452	$782	$461	$593	$362

View entire series (1978-2010): nominal or real

OPEC Per Capita Net Oil Export Revenues

Country	Nominal ($)				Real (2000$)
	2008	2009	2010	Jan-Oct 2009	2008	2009	2010	Jan-Oct 2009
Algeria	$2,042	NA	NA	$956	$1,653	NA	NA	$765
Angola	$5,397	NA	NA	$2,575	$4,368	NA	NA	$2,060
Ecuador	$706	NA	NA	$334	$571	NA	NA	$267
Iran	$1,260	NA	NA	$645	$1,020	NA	NA	$516
Iraq	$2,169	NA	NA	$1,071	$1,756	NA	NA	$857
Kuwait	$30,605	NA	NA	$14,037	$24,773	NA	NA	$11,228
Libya	$9,201	NA	NA	$4,258	$7,448	NA	NA	$3,406
Nigeria	$505	NA	NA	$249	$409	NA	NA	$199
Qatar	$41,266	NA	NA	$19,828	$33,396	NA	NA	$15,860
Saudi Arabia	$10,145	NA	NA	$4,250	$8,212	NA	NA	$3,399
UAE	$18,842	NA	NA	$8,282	$15,251	NA	NA	$6,624
Venezuela	$2,254	NA	NA	$1,036	$1,825	NA	NA	$829
OPEC	$2,676	$1,563	$1,999	$1,228	$2,166	$1,249	$1,579	$982

View entire series (1978-2010): nominal or real