Based on projections from the EIA January 2009 Short Term Energy Outlook (STEO), members of the Organization of the Petroleum Exporting Countries (OPEC) could earn $387 billion of net oil export revenues in 2009 and $526 billion in 2010. Last year, OPEC earned $972 billion in net oil export revenues, a 42 percent increase from 2007. Saudi Arabia earned the largest share of these earnings, $288 billion, representing 30 percent of total OPEC revenues. On a per-capita basis, OPEC net oil export earning reached $2,691, 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, available on the EIA website here. 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-Dec 2008	2008	2009	2010	Jan-Dec 2008
Algeria	$70	NA	NA	$70	$57	NA	NA	$57
Angola	$68	NA	NA	$68	$55	NA	NA	$55
Ecuador	$10	NA	NA	$10	$8	NA	NA	$8
Iran	$82	NA	NA	$82	$67	NA	NA	$67
Iraq	$60	NA	NA	$60	$48	NA	NA	$48
Kuwait	$81	NA	NA	$81	$65	NA	NA	$65
Libya	$57	NA	NA	$57	$46	NA	NA	$46
Nigeria	$70	NA	NA	$70	$57	NA	NA	$57
Qatar	$38	NA	NA	$38	$31	NA	NA	$31
Saudi Arabia	$288	NA	NA	$288	$233	NA	NA	$233
UAE	$89	NA	NA	$89	$72	NA	NA	$72
Venezuela	$59	NA	NA	$59	$48	NA	NA	$48
OPEC	$972	$387	$526	$972	$786	$308	$413	$786

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

OPEC Per Capita Net Oil Export Revenues

Country	Nominal ($)				Real (2000$)
	2008	2009	2010	Jan-Dec 2008	2008	2009	2010	Jan-Dec 2008
Algeria	$2,085	NA	NA	$2,085	$2,085	NA	NA	$1,686
Angola	$5,438	NA	NA	$5,438	$5,438	NA	NA	$4,399
Ecuador	$734	NA	NA	$734	$734	NA	NA	$594
Iran	$1,252	NA	NA	$1,252	$1,252	NA	NA	$1,012
Iraq	$2,119	NA	NA	$2,119	$2,119	NA	NA	$1,714
Kuwait	$31,057	NA	NA	$31,057	$31,057	NA	NA	$25,124
Libya	$9,161	NA	NA	$9,161	$9,161	NA	NA	$7,410
Nigeria	$506	NA	NA	$506	$506	NA	NA	$409
Qatar	$41,000	NA	NA	$41,000	$41,000	NA	NA	$33,163
Saudi Arabia	$10,221	NA	NA	$10,221	$10,221	NA	NA	$8,268
UAE	$19,302	NA	NA	$19,302	$19,302	NA	NA	$15,615
Venezuela	$2,251	NA	NA	$2,251	$2,251	NA	NA	$1,821
OPEC	$2,691	$1,049	$1,401	$1,401	$2,176	$836	$1,101	$2,176

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