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Supermalt

OPEC to make $1 trillion this year

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Opec, the oil producers’ cartel, will reap $1,000bn in export revenues this year for the first time if crude prices remain above $100 a barrel, according to the International Energy Agency.

The cartel has been one of the main beneficiaries of high oil prices, which have soared in recent weeks amid the civil uprisings in the Middle East and north Africa.

Brent crude was trading at $115 a barrel on Tuesday.

Fatih Birol, chief economist at the IEA, said a new assessment by the rich nations’ oil watchdog showed that the total number of barrels exported by Opec in 2011 would be slightly lower than in 2008, when cartel oil revenues reached $990bn. But if average prices remain around $100 a barrel, Opec’s oil revenues will still reach a record of $1,000bn this year.

“It would be the first time in the history of Opec that oil revenues have reached a trillion dollars. It’s mainly because of higher prices and higher production,” Mr Birol said in a Financial Times interview. “However, Saudi Arabia has made substantial efforts to calm down the oil markets by increasing production and hinder prices from going higher.”

The estimate, based on total Opec production including natural gas liquids, does not take inflation into account. “Depending on your choice of specific inflation adjustment, the 2008 number may be slightly higher [in real terms],” Mr Birol said.

Many of Opec’s biggest producers are using the price gains to increase public spending, partly to guard against popular unrest. Saudi Arabia announced a multiyear spending package of $129bn and is expected to spend about $35bn in 2011.

http://www.ft.com/cms/s/0/7fa28b96-5a2f-11e0-86d3-00144feab49a.html#axzz1I2L7Kv4d

safe

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Them one where the numbers are so high it's hard to comprehend how much p it is.

Madness.

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-1

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Them one where the numbers are so high it's hard to comprehend how much p it is.

Madness.

Mad ting

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1,000,000,000,000

imagine seeing that in ur bank balance

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nothin to celebrate

look what saudi make.. the nigerians make...

look what they makin and look what they are doin with it.. look how their people live

one day we will look back and wonder how so feew corrrupt morraly bankrupt bedouin goat herders failed to help thier people with the greatest natural resource ever

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are u gna do anything bout it u hairy arab?

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Them one where the numbers are so high it's hard to comprehend how much p it is.

Madness.

mad when you think about it, if you were to count up to a million taking a second to say each number and not losing your place it would take you about 12 days of solid counting, if you were to count to a billion it would take 31 years, if you were to count to a trillion it would take you 31,000 years lol

if u go back a trillion seconds your into prehistory somewhere around 28,000 bc.

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Them one where the numbers are so high it's hard to comprehend how much p it is.

Madness.

mad when you think about it, if you were to count up to a million taking a second to say each number and not losing your place it would take you about 12 days of solid counting, if you were to count to a billion it would take 31 years, if you were to count to a trillion it would take you 31,000 years lol

if u go back a trillion seconds your into prehistory somewhere around 28,000 bc.

OMGz-THATS-BRILLIANT.jpg?imageSize=Medium&generatorName=Token-Nigger-Baby

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310 years worth of cash if you spend 100 a day (I think)

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Infact if you spent

£86 400

every day for 31,000 years ud spend a trill

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So if you spend

£8 640 000

every day for 310 years youd spend a trill

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Adjusting for a normal life span of lets say 80 years

£34,560,000 a day for 80 (ish) years you would spend a trill

farkin ell

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Yh that should have been per second of the day (stop being a c*nt)

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yeah told you were wrong. gonna make a topic like numero now

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Infact if you spent

£86 400

every day for 31,000 years ud spend a trill

So if you spend

£8 640 000

every day for 310 years youd spend a trill

Adjusting for a normal life span of lets say 80 years

£34,560,000 a day for 80 (ish) years you would spend a trill

farkin ell

AHAHAHAHA, the way my guy is ramblin with himself, and then droppin randomly:

FREE CP!

qhqhqhqhqwkhsda

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