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Last Updated: August 19, 2016
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OPEC net oil export revenue in 2015 drops to lowest level since 2004

Members of the Organization of the Petroleum Exporting Countries (OPEC) earned $404 billion in net oil export revenue in 2015, according to recently published U.S. Energy Information Administration (EIA) estimates. This represents a 46% decline from the estimated $753 billion earned in 2014 and a 56% drop from the estimated $921 billion revenue received in 2012. While these net export earnings include Iran's revenues, they are not adjusted for possible price discounts that Iran may have offered its customers between late 2011 and January 2016, when nuclear-related sanctions targeting Iran's oil sales were in place.

EIA's estimated net oil export revenue is based on its oil production and consumption estimates, as well as its forecast for oil prices from the Short-Term Energy Outlook (STEO) published in June 2016. EIA assumes that exports are sold at prevailing spot prices, and adjusts the benchmark crude oil prices that are forecasted in the STEO (Brent, West Texas Intermediate, and the average imported refiner crude oil acquisition cost) to incorporate historical price differentials between spot prices for the different OPEC crude oil types. For countries that export several different varieties of crude oil, EIA assumes that the proportion of total net oil exports represented by each variety is equal to the proportion of the total domestic production represented by that variety. For example, if Arab Medium represents 20% of total oil production in Saudi Arabia, the estimate assumes that Arab Medium also represents 20% of total net oil exports from Saudi Arabia.

OPEC revenue has fallen in step with the steep decline in crude oil prices. The monthly average Brent spot price dropped from $112 per barrel (b) in June 2014 to $38/b in December 2015. Based on EIA price forecasts, which are subject to a wide range of uncertainty, OPEC revenue is expected to fall further in 2016 to $341 billion before rising to $427 billion in 2017.

OPEC members' 2015 net export revenue was the lowest since 2004, with significant implications for the fiscal condition of member countries that rely heavily on oil sales to fund social programs and import other goods and services. In inflation-adjusted terms, OPEC per capita net oil export revenue totaled $606 in 2015, down 83% from the 1980 level of $3,500.

The effects of recent declines in net oil export revenue vary across OPEC member states, depending on the degree of other export streams and existence of other financial assets. Overall, OPEC members are heavily dependent on petroleum exports for revenue, with petroleum exports accounting for 5% (Indonesia) to 99% (Iraq) of total export revenues in 2015, according to OPEC data. Broadly, countries with sizeable financial assets, such as the Gulf States (Saudi Arabia, Kuwait, Qatar, and the United Arab Emirates), are affected to a lesser degree than other oil producing countries such as Iraq, Nigeria, and Venezuela that do not have significant financial reserves. Government deficits, high reliance on oil revenue, and asset coverage of government spending are indicators of geopolitical stress exposure. Therefore, countries such as Venezuela, Nigeria, and Iraq, with fewer financial assets, are more exposed to geopolitical stress than countries with greater financial assets.

While declining crude oil prices have been the main driver behind lower OPEC revenues since mid-2014, unplanned production outages among some OPEC members have also contributed to lower earnings. A number of OPEC countries have experienced relatively high levels of unplanned outages. Some of these are because of political factors, such as the sanctions-related production shut-ins in Iran between 2011 and early 2016, when roughly 0.8 million barrels per day (b/d) remained off the market. Since January 2016, when the Joint Comprehensive Plan of Action (JCPOA) was implemented, Iran has been able to increase its crude oil production to presanctions levels of about 3.6 million b/d, with unplanned disruptions effectively disappearing at that time.

Other unplanned outages are related to armed conflict and militant activity. Libya, for example, has struggled to maintain crude oil production and exports since the fall of the Qaddafi regime in 2011. Political infighting and outright armed conflict among opposing factions since then led to an average shut-in volume of more than 1.0 million b/d of crude oil in 2015, with crude oil production averaging only about 0.4 million b/d during the year. Most recently, opposing factions have been clashing for control over the country's oil export terminals, and lack of available oil export outlets has necessitated that most of Libya's production capacity remain shut in. EIA estimates that Libya's effective production capacity currently stands at 1.3 million b/d with roughly 1.0 million b/d shut in. Libya's crude oil production was 0.3 million b/d in July 2016.

During 2015, Nigeria experienced a relatively low level of crude oil disruptions, which averaged roughly 0.3 million b/d. However, since the beginning of 2016, militant groups have stepped up their attacks in the Niger Delta region, an oil-rich area bordering the Gulf of Guinea that is the mainstay of the country's crude production. So far this year, there have been numerous attacks on oil and natural gas infrastructure throughout the region, largely in response the reduction in amnesty payments and the termination of security contracts to former militants. EIA estimates that Nigeria's production shut-ins were 0.7 million b/d in July, with production averaging less than 1.5 million b/d. EIA estimates that Nigeria's effective production capacity stands at roughly 2.2 million b/d.

In addition to price, unplanned production outages are another source of uncertainty for EIA's OPEC net export revenue estimate. For example, in Venezuela, crude oil production has declined sharply since the end of 2015, as oil service companies have largely stopped work in response to a lack of payment by state-owned Petroleos de Venezuela (PdVSA). As a result, Venezuela's crude oil production declined from an estimated 2.4 million b/d in December 2015 to 2.1 million b/d in July 2016. EIA's crude oil production forecast for Venezuela includes further declines through the end of 2017, but Venezuela's production forecast faces considerable downside risk as PdVSA's financial situation may result in accelerated production declines.

The weekly estimates of domestic crude oil production are reviewed monthly to identify disconnects with recent trends in domestic production reported in the Petroleum Supply Monthly (PSM) and other current data. If a disconnect between the two series is observed, the weekly production estimate may be re-benchmarked on a monthly basis to address it. This week's domestic crude oil production estimate incorporates a re-benchmarking. Any subsequent re-benchmarking of the weekly production estimate will be implemented on weeks when EIA's Short-Term Energy Outlook (STEO) is released.

The U.S. average regular gasoline retail price was $2.15 per gallon on August 15, virtually unchanged from the previous week but down 57 cents from the same time last year. The Midwest, East Coast, and Gulf Coast prices each increased one cent to $2.12 per gallon, $2.08 per gallon, and $1.94 per gallon, respectively. These increases were offset by a four cent price drop in the West Coast to $2.53 per gallon and a more modest decline in the Rocky Mountains, down one cent to $2.21 per gallon.

The U.S. average diesel fuel price fell by one cent to $2.31 per gallon, down 31 cents from the same time last year. The West Coast, East Coast, and Gulf Coast prices each fell one cent to $2.58 per gallon, $2.31 per gallon, and $2.18 per gallon, respectively. The Rocky Mountain and Midwest prices remained virtually unchanged at $2.39 per gallon and $2.27 per gallon, respectively.

U.S. propane stocks increased by 1.8 million barrels last week to 93.7 million barrels as of August 12, 2016, 0.1 million barrels (0.1%) lower than a year ago. East Coast and Gulf Coast inventories increased by 0.9 million barrels and 0.7 million barrels, respectively, while Midwest and Rocky Mountain/West Coast inventories each increased by 0.1 million barrels. Polypropylene non-fuel-use inventories represented 2.4% of total propane inventories.

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According to MarketDigits Gunshot Detection Systems Market was valued USD Billion in 2021 and estimated to reach USD 1,413 Million by 2028, growing at a CAGR of 10.5% during the forecast period of 2022-2028.

Top Key Players of Gunshot Detection Systems market: -

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Gunshot Detection Systems Market Insights: 

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Regional Market Insights:

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Gunshot Detection Systems Market Scope and Market Size:

The main outputs of this analysis are market data with thorough classifications and revenue breakdowns. Revenues from the Gunshot Detection Systems Market are broken down by service type, deployment style, sector, and geography. Players, stakeholders, and other market participants will be able to establish a strong position as a result of this report's benefits for their marketing plans. In terms of revenue and forecast for the years 2022–2028, the market study focuses on revenue and forecast by region/countries and by application. In-depth market share analysis with individual revenue, market shares, and company rankings. Detailed competitive landscape with identification of the important players in relation to each type of market.

The Report also looks at the market's current state of development, its prospects, and the global Gunshot Detection Systems market trend. Additionally, it divides the Gunshot Detection Systems Market into segments according to service type, deployment methodology, industry, and region to allow for in-depth analysis and the disclosure of market characteristics and prospects.

Purchase this single Gunshot Detection Systems Market user report @ https://marketdigits.com/gunshot-detection-systems-market/buy

Segmentations Analysis of Gunshot Detection Systems Market: -

Major Segmentations Are Distributed as follows:

By Application

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  • Commercial

By Installation Type

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  • Vehicle Installations
  • Fixed Installations

By Solution Type

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Gunshot Detection Systems Market Report Gives Answers to Following Key Questions:

  • What will be the Gunshot Detection Systems Market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers in the Gunshot Detection Systems market?
  • What are the main forces behind the worldwide Gunshot Detection Systems market? Which companies dominate the Gunshot Detection Systems market?
  • Which companies dominate the Gunshot Detection Systems Market? Which business possibilities, dangers, and tactics did they embrace in the market?
  • What are the global Gunshot Detection Systems industry's suppliers' opportunities and dangers in the Gunshot Detection Systems market?
  • What is the Gunshot Detection Systems industry's regional sales, income, and pricing analysis? In the Gunshot Detection Systems market, who are the distributors, traders, and resellers?
  • What are the main geographic areas for various trades that are anticipated to have astounding expansion over the Gunshot Detection Systems Market?
  • What are the main geographical areas for various industries that are anticipated to observe astounding expansion for the Gunshot Detection Systems Market?
  • What are the dominant revenue-generating regions for the Gunshot Detection Systems Market, as well as regional growth trends?
  • By the end of the forecast period, what will the market size and growth rate be?
  • What are the main Gunshot Detection Systems Market trends that are influencing the market's expansion?
  • Which key product categories dominate the Gunshot Detection Systems market? What are the Gunshot Detection Systems Market's main applications?
  • In the coming years, which Gunshot Detection Systems Market technology will dominate the market?

Request for quick sample PDF of the Gunshot Detection Systems Market Report @ https://marketdigits.com/gunshot-detection-systems-market/sample

About us:

MarketDigits is one of the leading business research and consulting companies that helps clients to tap new and emerging opportunities and revenue areas, thereby assisting them in operational and strategic decision-making. We at MarketDigits believe that market is a small place and an interface between the supplier and the consumer, thus our focus remains mainly on business research that includes the entire value chain and not only the markets.

 We offer services that are most relevant and beneficial to the users, which help businesses to sustain in this competitive market. Our detailed and in-depth analysis of the markets catering to strategic, tactical, and operational data analysis & reporting needs of various industries utilize advanced technology so that our clients get better insights into the markets and identify lucrative opportunities and areas of incremental revenues.

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Top Key Players of Pet Wearable market: -

Fitbark, Datamars, Avid Identification Systems, Link AKC, Voyce, Invisible Fence, Garmin Ltd, Whistle Labs Inc, PetPace LLC among others.

Pet Wearable Market Insights: 

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Regional Market Insights:

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Request for quick sample PDF of the Pet Wearable Market Report @ https://marketdigits.com/pet-wearable-market/sample

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Pre-Post Impact of Covid-19 on Pet Wearable market: -

The COVID-19 pandemic, which has affected businesses from all sectors of industry, has had an influence on both personal and professional lives. Public sector businesses and government organizations, as well as the IT, telecommunications, and healthcare industries, heavily invested in IoT technology to manage the unique COVID-19 pandemic catastrophe and get the best results in saving a life. Therefore, increased IoT investment during the pandemic is a significant contributor to the market's growth.

Pet Wearable Market Scope and Market Size:

The main outputs of this analysis are market data with thorough classifications and revenue breakdowns. Revenues from the Pet Wearable Market are broken down by service type, deployment style, sector, and geography. Players, stakeholders, and other market participants will be able to establish a strong position as a result of this report's benefits for their marketing plans. In terms of revenue and forecast for the years 2022–2028, the market study focuses on revenue and forecast by region/countries and by application. In-depth market share analysis with individual revenue, market shares, and company rankings. Detailed competitive landscape with identification of the important players in relation to each type of market.

The Report also looks at the market's current state of development, its prospects, and the global Pet Wearable market trend. Additionally, it divides the Pet Wearable Market into segments according to service type, deployment methodology, industry, and region to allow for in-depth analysis and the disclosure of market characteristics and prospects.

Purchase this single Pet Wearable Market user report @ https://marketdigits.com/pet-wearable-market/buy

Segmentations Analysis of Pet Wearable Market: -

Major Segmentations Are Distributed as follows:

By Application

  • Fitness Monitoring
  • Medical Diagnosis
  • Treatment
  • Identification & Tracking

By Product

  • Smart Vest
  • Smart Camera
  • Smart Collar
  • Smart Harness

By Technology

  • GPS
  • Bluetooth
  • Sensors

Pet Wearable Market Report Gives Answers to Following Key Questions:

  • What will be the Pet Wearable Market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers in the Pet Wearable market?
  • What are the main forces behind the worldwide Pet Wearable market? Which companies dominate the Pet Wearable market?
  • Which companies dominate the Pet Wearable Market? Which business possibilities, dangers, and tactics did they embrace in the market?
  • What are the global Pet Wearable industry's suppliers' opportunities and dangers in the Pet Wearable market?
  • What is the Pet Wearable industry's regional sales, income, and pricing analysis? In the Pet Wearable market, who are the distributors, traders, and resellers?
  • What are the main geographic areas for various trades that are anticipated to have astounding expansion over the Pet Wearable Market?
  • What are the main geographical areas for various industries that are anticipated to observe astounding expansion for the Pet Wearable Market?
  • What are the dominant revenue-generating regions for the Pet Wearable Market, as well as regional growth trends?
  • By the end of the forecast period, what will the market size and growth rate be?
  • What are the main Pet Wearable Market trends that are influencing the market's expansion?
  • Which key product categories dominate the Pet Wearable market? What are the Pet Wearable Market's main applications?
  • In the coming years, which Pet Wearable Market technology will dominate the market?

Request for quick sample PDF of the Pet Wearable Market Report @ https://marketdigits.com/pet-wearable-market/sample

About us:

MarketDigits is one of the leading business research and consulting companies that helps clients to tap new and emerging opportunities and revenue areas, thereby assisting them in operational and strategic decision-making. We at MarketDigits believe that market is a small place and an interface between the supplier and the consumer, thus our focus remains mainly on business research that includes the entire value chain and not only the markets.

We offer services that are most relevant and beneficial to the users, which help businesses to sustain in this competitive market. Our detailed and in-depth analysis of the markets catering to strategic, tactical, and operational data analysis & reporting needs of various industries utilize advanced technology so that our clients get better insights into the markets and identify lucrative opportunities and areas of incremental revenues.

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