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FinancialNews


  • 07-04-13

    Saudi income from oil exports to fall by 19% in 2013

    (MENAFN) Saudi Jadwa Investments announced that during the current year, the Kingdom's income from oil exports is expected to decline by 19 percent to USD279 billion, reported Emirates 24/7. Jadwa attributed the projected drop to a fall in oil output, which is expected to average 9.6 million barrels per day (bpd) from 9.8 million bpd last year. It said that earnings will also be affected by a decrease in the average price of Saudi crude, which is forecasted to reach around USD99.5 a barrel from USD106 in 2012. It is worth noting that in 2012, Saudi Arabia's earnings from oil exports hit USD347 billion.

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