OPEC

OPEC’s Annual Statistical Bulletin (ASB) for 2014 shows its members’ oil export revenue for 2013 falling by 8% or $96bn from 2012’s record numbers.

The US  government’s Energy Information Administration (EIA) predicts that for 2014 OPEC oil export revenues will fall by a further $50bn or 6% and that revenues will fall a further 8% to $697bn for 2015, when measured in constant 2013 dollars .

Whilst the two sets of data are not directly comparable –...