Opec in record export income

<div>OPEC&rsquo;s income from oil and gas exports jumped 35 per cent to more than $1 trillion (&pound;625bn) last year as world oil prices hit record highs, the oil cartel said in its Annual Statistical Bulletin yesterday.<br /><br />The Organization of the Petroleum Exporting Countries said the total sales compared to $746bn in 2007, which was itself a record.<br /><br />US crude oil futures started 2008 at around $100 per barrel, then rose to over $147 in July and then retreated to around $40 by the end of the year, giving an average price for 2008 of around $99, up from $72 in 2007.</div>