Oil producer club OPEC is set to earn more than $1 trillion from oil exports if crude prices remain above $100/barrel this year, the International Energy Agency said Wednesday.

“IEA analysis indicates that if oil prices stay above $100/b on average for the full year, OPEC oil export revenues are set to exceed $1 trillion in 2011–a record high,” the agency said in a statement on its website.

OPEC itself estimated the collective earnings of its members at $1.002 trillion in 2008. This figure plunged by 43% to $575.3 billion in 2009, OPEC said in its most recent annual statistical bulletin, published in July 2010.

The IEA, meanwhile, said that while oil producing countries would benefit, the high prices posed a threat to the fragile global economy.