Based on projections from the Energy Information Administration's February 2009 Short Term Energy Outlook (STEO), members of the Organization of the Petroleum Exporting Countries (OPEC) could earn $402 billion of net oil export revenues in 2009 and $530 billion in 2010. Last year, OPEC earned $971 billion in net oil export revenues, a 42 percent increase from 2007. Saudi Arabia earned the largest share of these earnings, $288 billion, representing 30 percent of total OPEC revenues. On a per-capita basis, OPEC net oil export earning reached $2,688 in 2008, a 40 percent increase from 2007.