Based on projections from the EIA March 2009 Short-Term Energy Outlook (STEO), members of the Organization of the Petroleum Exporting Countries (OPEC) could earn $383 billion of net oil export revenues in 2009 and $503 billion in 2010. Last year, OPEC earned $970 billion in net oil export revenues, a 42 percent increase from 2007. Saudi Arabia earned the largest share of these earnings, $287 billion, representing 30 percent of total OPEC revenues. On a per-capita basis, OPEC net oil export earning reached $2,686 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-Feb 2009	2008	2009	2010	Jan-Feb 2009
Algeria	$70	NA	NA	$5	$57	NA	NA	$4
Angola	$68	NA	NA	$4	$55	NA	NA	$4
Ecuador	$10	NA	NA	$1	$8	NA	NA	$1
Iran	$82	NA	NA	$6	$67	NA	NA	$4
Iraq	$60	NA	NA	$4	$48	NA	NA	$3
Kuwait	$81	NA	NA	$5	$65	NA	NA	$4
Libya	$56	NA	NA	$4	$45	NA	NA	$3
Nigeria	$70	NA	NA	$5	$57	NA	NA	$4
Qatar	$38	NA	NA	$2	$31	NA	NA	$2
Saudi Arabia	$287	NA	NA	$16	$233	NA	NA	$13
UAE	$89	NA	NA	$6	$72	NA	NA	$5
Venezuela	$59	NA	NA	$4	$47	NA	NA	$3
OPEC	$970	$383	$503	$61	$785	$307	$400	$49

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

OPEC Per Capita Net Oil Export Revenues

Country	Nominal ($)				Real (2000$)
	2008	2009	2010	Jan-Feb 2009	2008	2009	2010	Jan-Feb 2009
Algeria	$2,084	NA	NA	$145	$2,084	NA	NA	$116
Angola	$5,403	NA	NA	$345	$5,403	NA	NA	$276
Ecuador	$736	NA	NA	$46	$736	NA	NA	$37
Iran	$1,252	NA	NA	$84	$1,252	NA	NA	$67
Iraq	$2,119	NA	NA	$146	$2,119	NA	NA	$117
Kuwait	$31,095	NA	NA	$1,940	$31,095	NA	NA	$1,555
Libya	$9,097	NA	NA	$589	$9,097	NA	NA	$472
Nigeria	$506	NA	NA	$36	$506	NA	NA	$29
Qatar	$41,004	NA	NA	$2,551	$41,004	NA	NA	$2,045
Saudi Arabia	$10,216	NA	NA	$551	$10,216	NA	NA	$442
UAE	$19,303	NA	NA	$1,260	$19,303	NA	NA	$1,010
Venezuela	$2,222	NA	NA	$140	$2,222	NA	NA	$112
OPEC	$2,686	$1,041	$1,341	$1,341	$2,174	$834	$1,065	$135

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