(EnergyAsia, December 28 2012, Friday) — Amid falling oil prices, OPEC’s net oil export revenues will fall by 9.2% next year to US$955 billion after reaching a record US$1.052 trillion in 2012, predicts the US Energy Information Administration’s (EIA).

In 2011, the 12-member Organisation of the Petroleum Exporting Countries earned US$1.27 trillion from oil exports for a 33% rise over the previous year, said the EIA.

Saudi Arabia, the cartel’s biggest producer, earned US$310 billion in 2011, or about 30% of OPEC’s total, said the EIA in its latest short-term energy outlook.