The International Energy Information Administration (IEA) expects oil and gas investment in Organisation of Petroleum Exporting Countries (OPEC) to drop from $1.2 trillion it recorded in 1012 to $320 billion in 2016.The IEA, which made this disclosure in its Medium Term Oil Market report released recently, stated that as a whole, oil export revenues slumped from a peak of $1.2 trillion in 2012 to $500 billion in 2015 and, if oil prices remain at current levels, this will fall in 2016 to approximately $320 billion.
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