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OPEC countries’ export revenues down 3.86% in 2024 to $652 bln

Saudi Arabia’s revenues fell the most - by 9.71% to $223.372 bln

MOSCOW, July 2. /TASS/. Total revenues of 12 OPEC member states from oil supplies decreased by 3.86% last year to $651.99 bln, according to the annual statistical bulletin of the organization.

Saudi Arabia’s revenues fell the most - by 9.71% to $223.372 bln. Meanwhile Venezuela’s revenues climbed by 40.37% to $18.372 bln, while Iranian revenues gained 13.73% to $46.776 bln.

The physical volume of oil exports by OPEC countries in 2024 decreased by 3.55% to 19.01 mln barrels per day. OPEC's share of global oil deliveries was 43.96% last year, which is slightly lower than in 2023 (44.81%). A number of OPEC members adhered to voluntary oil production restrictions under the OPEC+ deal throughout 2024.

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