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Saudi Arabian 2012 Oil Export Revenue Gained 5% as Iran Fell 12%

Saudi Arabia’s revenue from exports of crude oil and other petroleum products in 2012 rose 5.3 percent from a year earlier while Iran’s income from sales abroad sank by 12 percent, OPEC reported.

The world’s largest crude exporter shipped oil and products valued at $336.1 billion last year, up from $319.1 billion in 2011, the Organization of Petroleum Exporting Countries said in its Annual Statistical Bulletin today. The kingdom’s export revenue advanced at a slower pace than the 49 percent gain in 2011, the data showed.