The United States (U.S.) Energy Information Administration (EIA) has projected that members of the Organisation of the Petroleum Exporting Countries (OPEC) net oil export revenues could fall from the $404 billion it earned in 2015 to about $341 billion in 2016.The EIA, which made this disclosure in OPEC revenues fact sheet released yesterday, stated that the cartel’s revenue declined by 46 per cent from the $753 billion earned in 2014 to $404 billion, mainly as a result of a precipitous fall in average yearly crude oil prices during the year.
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