OPEC Could Have Third Year of Oil Revenue Decline

OPEC's full-year 2016 oil export revenues will probably fall 15 percent, down for the third straight year and possibly the lowest in more than a decade before rising in 2017, the U.S. Energy Information Administration (EIA) said on Wednesday.

Members of Organization of the Petroleum Exporting Countries (OPEC), including Iran, will likely earn about $341 billion in 2016, about 15 percent below 2015 levels, based on projections of global oil prices and the group's production levels, the U.S. government's EIA said in a report.

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