he crude oil export earnings by the Arab world petroleum exporting nations reached its peak in 2011 by nearly $174 billion. A report by Kuwait based Organization of Arab Petroleum Exporting Countries OAPEC said the earnings soared to $624.8 billion in 2011from around $450 billion in 2010. The report said that increase in crude oil prices and a higher production by the oil exporting Arab nations were responsible for the gains in export earnings. Saudi Arabia accounted for almost half the total income while UAE gained most in terms of net income . Saudi Arabia, the number one oil power, netted nearly $289 billion last year compared with $184.4 billion in 2010. The UAE’s income swelled to an all time high of about $85.9 billion from $57.9 billion .In Kuwait the income grew to $79.6 billion from $53 billion. The earnings leaped to $27.3 billion from $20.5 billion in Qatar. It went up to $37.2 billion from $28 billion in Algeria. The report, which gave no data for Tunisia, showed the 2011 income stood at $6.3 billion in Bahrain and around $4.6 billion in Egypt. Libya was the only exception as its income tumbled in 2010 because of the uprising which ended with the death of Muammar Gaddafi. The report said that in real terms, the combined Arab income was at $479 billion in 2011, taking into account the real dollar value and global inflation. While the nominal price of OPEC’s basket of crudes was at around $107 a barrel in 2011, its real value averaged about $88 in terms of 1995 prices.