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Posted December 17, 2014Today in Energy

OPEC net oil export revenues expected to fall in 2014 and 2015 ›

Based on crude oil market assessments in the Short-Term Energy Outlook, EIA estimates that members of OPEC, excluding Iran, will earn about $700 billion in net oil export revenues in 2014, a 14% decrease from 2013 earnings and the lowest earnings for the group since 2010. OPEC earnings declined in 2014 largely for two reasons: decreases in the amount of OPEC oil exports and lower oil prices, with the 2014 average for Brent crude oil projected to be 8% below the average 2013 price. More


Source: EIA, Short-Term Energy Outlook

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Data Highlights

WTI crude oil futures price

12/16/2014: $55.93/bbl

down$7.89 from week earlier
down$41.55 from year earlier

Natural gas futures price

12/16/2014: $3.619/mmBtu

down$0.033 from week earlier
down$0.660 from year earlier

Retail heating oil price

12/15/2014: $3.142 /gal

down$0.078 from week earlier
down$0.811 from year earlier

Crude oil inventories

12/12/2014: 379.9 mmbbl

down0.8 mmbbl from week earlier
up7.6 mmbbl from year earlier

Weekly coal production

12/6/2014: 19.611 million tons

up0.654 million tons from week earlier
up2.152 million tons from year earlier

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