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FINANCIAL NEWS
OPEC forecasts lower crude demand in 2013
28 Jul 2013
(MENAFN) Members of the Organization of the Petroleum Exporting Countries (OPEC) have boosted their net revenues from oil exports to nearly USD982 billion in 2012, up 5.4 percent from previous year, according to the US Department of Energy, reported Saudi Gazette.
On top comes Riyadh earning USD311 billion which comprise 32 percent of the consolidated OPEC revenues in 2012.
However, forecasts by the EIA for next year revenues indicates a decline by 4.3 percent to USD940 billion, as the OPEC also predicted lower demand for its crude by 2.6 percent in 2013.
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