OPEC's oil reserves have increased by 4 % in 2009

Jul 06, 2010 02:00 AM

OPEC's proven crude oil reserves rose by 4 % in 2009 to 1.06 tn barrels, according to the group's annual statistical bulletin, led by an increase in Venezuela.
However, the value of its petroleum sales abroad fell to $ 575 bn in 2009 from the record $ 1 tn in 2008 due to sharply lower prices for oil and gas and because of the economic crisis.

OPEC members pump more than a third of the world's oil.

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