OPEC nations, reports the Financial Times, earned as much in the first half of this year as they did in the whole of 2007.

According to the report, member nations pocketed a staggering $645 billion in the first six months of 2008, just under the record $671 billion they earned last year. This puts OPEC nations on track to earn a record $1,245 billion this year, despite the recent 20 percent drop in oil prices, as any price drop will be offset by an increase in demand.

Profit Hunter’s Manraaj Singh calls it the “biggest transfer in history.”

With the price of oil shooting through the roof, one of the most fascinating questions is just how much all the oil out there is actually worth. The other big question is how do you get your slice of it?

India’s economy is white hot. It’s grown by more than 9% every year since 2005. So all investors who are serious about growing their wealth in the long-term need to have exposure to this economy.

Crude oil and gasoline have risen to new records as worries mount over the prospect a serious supply fallout from an Irseali attack on Iranian nuclear facilities.

Supply disruptions in Brazil to Nigeria are also feeding into sky-high oil prices. Crude oil prices jumped as high as $147.27. A barrel of the black goo now costs $10 more than it did on Wednesday.

Sky-high oil prices are triggering the biggest transfer of wealth in history, says Mandraaj Singh inb Profit Watch - from the US and Europe to Gulf oil economies.

The $200 billion deal that no other investment service will tell you about.