The OPEC member-states last year registered their first collective budget deficit since 1998. This was stated in the OPEC official report. OPEC members’ total cumulative budget deficit amounted to $99.6 billion in 2015 compared with a surplus of $238 billion in 2014. At the end of 2015, OPEC oil export earnings fell by 45.8% compared to 2014. The figure was $518.2 billion last year. The volume of revenue was lowest since 2005. 

 

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