(Bloomberg) -- OPEC said its oil revenues slumped by 18% last year, as crude prices cooled and the group embarked on new production cuts to balance global markets.
The group's petroleum exports dropped by $148.9 billion to $679.7 billion in 2023, after a surge the previous year, OPEC said in its Annual Statistical Bulletin on Tuesday.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
Group leader Saudi Arabia — which shouldered the bulk of additional supply curbs — suffered the second-biggest drop in percentage terms, retreating by 24% to $248.4 billion. Equatorial Guinea saw the biggest revenue drop, collapsing by 44% as its output plunged.
Brent crude futures averaged 17% lower in 2023, at about $82 a barrel. Prices had climbed the previous year following the invasion of Ukraine by Russia, which is part of a wider coalition of producers known as OPEC+.
More stories like this are available on bloomberg.com
©2024 Bloomberg L.P.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.