Stats published by OPEC show $578 billion from oil exports in 2017; every member country saw revenue growth in 2017
OPEC’s output cut has played a significant role in rebalancing the oil market, bringing more than 1 MMBOPD off the market. Of course, the agreement was not motivated by some sort of altruistic motivations and OPEC has seen its revenues rise along with the climbing oil price.

The group produced smaller volumes in 2017 than in 2016, but improved oil prices mean every country in the cartel saw export revenue increase last year. I...

Legal Notice