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Iran counts on $35-40/bbl oil for next year’s budget

Iran counts on $35-40/bbl oil for next year’s budget

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Date: 27 December 2015 10:37

Tehran, Iran, December 27

By Mehdi Sepahvand –- Trend:

The Iranian government has counted on $35 to $40 per barrel for oil in drafting the country’s next-year national budget, Head of Iran’s Statistics Center Adel Azar said.

He added that the government has also expected the oil output to get as high as 2.5 million barrels, SHANA news agency reported December 26.

He pointed to Saudi Arabia’s last year ignition of a price fight as an act of treachery.

Iranian President Hassan Rouhani on December 23 said that the government has decreased the reliance on oil to 25 percent in the budget bill for March 2016-2017.

The government spokesman and the head of the Management and Planning Organization Mohammad Baqer Nobakht said Dec 22 that oil revenues are forecasted to share 660 trillion rials (about $22 billion) from 2.67 quadrillion rials ($89 billion) of total income in the budget bill for March 2016-2017.

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