Based on projections from the EIA May 2009 Short-Term Energy Outlook (STEO), members of the Organization of the Petroleum Exporting Countries (OPEC) could earn $462 billion of net oil export revenues in 2009 and $526 billion in 2010. Last year, OPEC earned $968 billion in net oil export revenues, a 42 percent increase from 2007. Saudi Arabia earned the largest share of these earnings, $285 billion, representing 29 percent of total OPEC revenues. On a per-capita basis, OPEC net oil export earning reached $2,680 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, 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-Apr 2009	2008	2009	2010	Jan-Apr 2009
Algeria	$70	NA	NA	$10	$57	NA	NA	$8
Angola	$68	NA	NA	$10	$55	NA	NA	$8
Ecuador	$10	NA	NA	$1	$8	NA	NA	$1
Iran	$82	NA	NA	$13	$67	NA	NA	$10
Iraq	$60	NA	NA	$9	$48	NA	NA	$7
Kuwait	$80	NA	NA	$12	$65	NA	NA	$9
Libya	$56	NA	NA	$8	$45	NA	NA	$7
Nigeria	$70	NA	NA	$11	$56	NA	NA	$8
Qatar	$38	NA	NA	$6	$31	NA	NA	$5
Saudi Arabia	$285	NA	NA	$36	$231	NA	NA	$29
UAE	$89	NA	NA	$12	$72	NA	NA	$10
Venezuela	$59	NA	NA	$8	$48	NA	NA	$6
OPEC	$968	$462	$526	$135	$783	$367	$413	$108

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

OPEC Per Capita Net Oil Export Revenues

Country	Nominal ($)				Real (2000$)
	2008	2009	2010	Jan-Apr 2009	2008	2009	2010	Jan-Apr 2009
Algeria	$2,086	NA	NA	$292	$1,688	NA	NA	$233
Angola	$5,404	NA	NA	$770	$4,374	NA	NA	$614
Ecuador	$735	NA	NA	$80	$595	NA	NA	$64
Iran	$1,253	NA	NA	$194	$1,014	NA	NA	$154
Iraq	$2,123	NA	NA	$313	$1,718	NA	NA	$250
Kuwait	$30,952	NA	NA	$4,385	$25,052	NA	NA	$3,496
Libya	$9,094	NA	NA	$1,311	$7,360	NA	NA	$1,045
Nigeria	$505	NA	NA	$75	$409	NA	NA	$60
Qatar	$41,028	NA	NA	$6,072	$33,202	NA	NA	$4,841
Saudi Arabia	$10,146	NA	NA	$1,273	$8,213	NA	NA	$1,015
UAE	$19,304	NA	NA	$2,617	$15,624	NA	NA	$2,086
Venezuela	$2,223	NA	NA	$281	$1,800	NA	NA	$224
OPEC	$2,680	$1,253	$1,401	$369	$2,169	$997	$1,100	$294

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