Strong oil prices allied with higher output to boost the combined 2012 income of Gulf hydrocarbon producers by nearly $42 billion to their highest level in current prices since they began pumping crude more than 70 years ago.
From around $695.9 billion in 2011, the collective oil and gas export earnings of the six Gulf Cooperation Council (GCC) countries climbed to a record $737.5 billion in 2012, according to the Washington-based Institute for International Finance (IIF).
It was the highest income from oil sales in the GCC's history and more than double their oil revenue of nearly $305 billion in 2005, IIF said in a study.
Read more: http://www.zawya.com/story/GCC_oil_income_at_alltime_high_in_2012-ZAWYA20130318032244/
Good time to buy Cyprus ;)
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