The American Energy Information Administration published a report saying that the members of the world's oil exporting countries (OPEC) have earned about $888 billion in oil export income in 2022, and Iran ranks fifth with an income of $54 billion.
Publish dateSaturday 1 July 2023 - 15:06
Story Code : 272560
Afghan Voice Agency (AVA): According to media reports, the statistics of the US Energy Information Administration (EIA) showed that OPEC members earned about 888 billion dollars in oil export income last year.
According to the agency's report, OPEC's net income in 2022 grew by about 43 percent compared to the previous year, when the group earned $622 billion. The increase in OPEC's net income from oil exports in 2022 was mainly due to higher crude oil prices and to a lesser extent due to higher production of petroleum liquids.
According to ISNA, the total production of OPEC oil in 2022 increased to about 34.2 million barrels per day and grew by 2.5 million barrels per day year-on-year.
According to the US Energy Information Administration, Saudi Arabia earned $311 billion from oil exports last year, which was the highest among OPEC members.
Iraq ranked second with $131 billion in revenue, and the United Arab Emirates ranked third with $119 billion in revenue, followed by Kuwait with $98 billion in revenue, and Iran ranked fifth with $54 billion in revenue.
In 2021, Saudi Arabia ranked first with $206 billion in revenue from oil sales. Iraq was second with $92 billion in revenue, the United Arab Emirates was third with $82 billion, Kuwait was fourth with $68 billion, and Iran was fifth with $40 billion.
The US Energy Information Administration predicts that OPEC's net income from oil exports will decrease to $656 billion in 2023. This decrease is due to the lower production of OPEC due to the continuation of the OPEC+ production reduction agreement and lower oil prices.
It is expected that the total production of OPEC oil liquids will decrease to 33.5 million barrels per day in 2023, and the price of Brent oil will reach $80 per barrel from 101 dollars in 2022.
The US Energy Information Administration expects OPEC's net income from oil exports to increase to $682 billion in 2024, when the group's production will increase.
The US Energy Information Administration report states: We predict that global oil prices will increase in 2024, reflecting the decline in global oil reserves in each of the next five quarters.
The top five OPEC countries in terms of oil export income in 2023 and 2024 will be the same countries as in 2021 and 2022.
Saudi Arabia's net oil export income to 215 billion dollars in 2023 and 223 billion dollars in 2024, Iraq's net oil export income to 96 billion dollars in 2023 and 103 billion dollars in 2024, United Arab Emirates' net oil export income to 91 billion dollars in 2023 and 92 billion dollars in 2024, the net income of Kuwait's oil exports to 74 billion dollars in 2023 and 77 billion dollars in 2024, and the net income of Iran's oil exports to 44 billion dollars this year, 48 billion dollars It will arrive next year.
According to the Rigzone website, the US Energy Information Administration, in its latest "Short-Term Energy Outlook" report published in June, projected OPEC oil and other liquids production to 33.51 million barrels per day in 2023. And in 2024, it will reach 33.84 million barrels per day. Production of OPEC oil and other liquids in 2022 reached 34.17 million barrels per day.
It should be mentioned that Iran's income from the export of petroleum products was 54 billion dollars last year, while this country is facing unilateral sanctions from the United States.
According to the agency's report, OPEC's net income in 2022 grew by about 43 percent compared to the previous year, when the group earned $622 billion. The increase in OPEC's net income from oil exports in 2022 was mainly due to higher crude oil prices and to a lesser extent due to higher production of petroleum liquids.
According to ISNA, the total production of OPEC oil in 2022 increased to about 34.2 million barrels per day and grew by 2.5 million barrels per day year-on-year.
According to the US Energy Information Administration, Saudi Arabia earned $311 billion from oil exports last year, which was the highest among OPEC members.
Iraq ranked second with $131 billion in revenue, and the United Arab Emirates ranked third with $119 billion in revenue, followed by Kuwait with $98 billion in revenue, and Iran ranked fifth with $54 billion in revenue.
In 2021, Saudi Arabia ranked first with $206 billion in revenue from oil sales. Iraq was second with $92 billion in revenue, the United Arab Emirates was third with $82 billion, Kuwait was fourth with $68 billion, and Iran was fifth with $40 billion.
The US Energy Information Administration predicts that OPEC's net income from oil exports will decrease to $656 billion in 2023. This decrease is due to the lower production of OPEC due to the continuation of the OPEC+ production reduction agreement and lower oil prices.
It is expected that the total production of OPEC oil liquids will decrease to 33.5 million barrels per day in 2023, and the price of Brent oil will reach $80 per barrel from 101 dollars in 2022.
The US Energy Information Administration expects OPEC's net income from oil exports to increase to $682 billion in 2024, when the group's production will increase.
The US Energy Information Administration report states: We predict that global oil prices will increase in 2024, reflecting the decline in global oil reserves in each of the next five quarters.
The top five OPEC countries in terms of oil export income in 2023 and 2024 will be the same countries as in 2021 and 2022.
Saudi Arabia's net oil export income to 215 billion dollars in 2023 and 223 billion dollars in 2024, Iraq's net oil export income to 96 billion dollars in 2023 and 103 billion dollars in 2024, United Arab Emirates' net oil export income to 91 billion dollars in 2023 and 92 billion dollars in 2024, the net income of Kuwait's oil exports to 74 billion dollars in 2023 and 77 billion dollars in 2024, and the net income of Iran's oil exports to 44 billion dollars this year, 48 billion dollars It will arrive next year.
According to the Rigzone website, the US Energy Information Administration, in its latest "Short-Term Energy Outlook" report published in June, projected OPEC oil and other liquids production to 33.51 million barrels per day in 2023. And in 2024, it will reach 33.84 million barrels per day. Production of OPEC oil and other liquids in 2022 reached 34.17 million barrels per day.
It should be mentioned that Iran's income from the export of petroleum products was 54 billion dollars last year, while this country is facing unilateral sanctions from the United States.
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