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Meanwhile ...
The EIA blurb for the day:
For 2014, the U.S. Energy Information Administration estimates that, excluding Iran, members of the Organization of the Petroleum Exporting Countries (OPEC) earned about $730 billion in net oil export revenues (unadjusted for inflation).
This represents an 11% decline from the $824 billion earned in 2013, largely because of the decline in average annual crude oil prices, and to a lesser extent from decreases in the amount of OPEC net oil exports. --- EIAWow, a 11% decline in 2014 -- and the slump in prices occurred late in the year. Imagine what 2015 will bring for OPEC. I wonder if Jane Nielson is following this story?
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