Oil revenues

Oil revenues refer to the income a country earns from selling crude oil and related products on the global market. This income is generated when oil companies extract and sell oil, either directly for government-owned resources or through private companies that pay royalties or taxes. Oil revenues can significantly impact a country's economy, providing funds for public services and development. However, reliance on oil income can also pose risks, such as revenue volatility due to fluctuating oil prices, making economic stability dependent on global energy markets.