Recently, the Energy Information Administration of the United States Department of Energy reported that the UAE netted approximately $48 billion from oil exports during the first six months of 2013. Although the country is not quite on par to reach the record-breaking $100 billion amount it achieved for 2012, it remains the second-largest earner in the Organization of the Petroleum Exporting Countries (OPEC). Other high earning OPEC countries include Kuwait, Iraq, and Nigeria, each of which have generated more than $40 billion in 2013 so far.
Last year, OPEC (excluding Iran) reported combined earnings of $982 billion. While Saudi Arabia’s profits accounted for almost a third of the organization’s 2012 total, the UAE’s earnings comprised more than 10 percent. It is important to note, however, that data for Iran’s 2012 and 2013 earnings was not available when these figures were compiled.