Nov. 13 (Bloomberg) -- The U.S. government lowered its forecast for OPEC nations' revenues from oil exports this year to $979 billion, a cut of 9.6 percent from last month.

The Organization of Petroleum Exporting Countries would make 46 percent more than it did in 2007, based on the revised estimate, according to a report released today by the U.S. Energy Information Administration, the statistical arm of the Energy Department.

OPEC nations earned $841 billion in net oil export revenues through October, based on EIA estimates. The 13-member group could make $595 billion next year, according to the forecast.

Crude oil futures prices have fallen 62 percent from their record high of $147.27 a barrel in July. Crude oil for December delivery fell 35 cents, or 0.6 percent, to $55.81 a barrel at 11:10 a.m. on the New York Mercantile Exchange.

EIA yesterday cut its oil price forecast for next year by 43 percent, from an average $63.50 a barrel, from the $112 estimated in October.

Last month, EIA projected OPEC could record $1.08 trillion this year.

To contact the reporter on this story: Tina Seeley in Washington at tseeley@bloomberg.net

Last Updated: November 13, 2008 12:07 EST