Iran net oil export revenue hit $54 bn in 2022

OPEC members earned about $888 billion in net oil export revenue last year. That’s what the US Energy Information Administration (EIA) estimates in its latest OPEC Revenues Fact Sheet, which was last updated this month.

According to the sheet, Saudi Arabia had the highest net oil export revenue among OPEC members last year at $311 billion. The fact sheet placed Iraq in second, with $131 billion, the United Arab Emirates in third, with $119 billion, Kuwait in fourth, with $98 billion, and Iran in fifth, with $54 billion, Rigzone reported.

The EIA fact sheet highlighted that Saudi Arabia also had the highest net oil export revenue in 2021 at $206 billion. Iraq was second, with $92 billion, the UAE was third, with $82 billion, Kuwait was fourth, with $68 billion, and Iran was fifth, with $40 billion, in 2021, the fact sheet outlined.

The fact sheet sees Saudi Arabia’s net oil export revenue coming in at $215 billion in 2023 and $223 billion in 2024, Iraq’s net oil export revenue at $96 billion in 2023 and $103 billion in 2024, the UAE’s net oil export revenue at $91 billion in 2023 and $92 billion in 2024, Kuwait’s net oil export revenue at $74 billion in 2023 and $77 billion in 2024, and Iran’s net oil export revenue at $44 billion this year and $48 billion next year.