Middle East Economic Survey

VOL. XLVII

No 35

30-August-2004

BUDGETS AND REVENUES

OPEC Oil Revenues Hit $255Bn In 2003

The combined oil revenues of the 11 members of OPEC (including Iraq) reached a total of $255bn in 2003 on the back of combined average exports of 19.5mn b/d, according to statistics published in the just released OPEC Annual Statistical Bulletin 2003. The figure tops the most recent peak in combined OPEC revenues of $252bn reached in 2000 on average exports of 20.5mn b/d, and comes...