A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Gulf on July 25, 2005. (Reuters)

December 11, 2019

Iran’s budget for next year expects oil prices at $50 a barrel, head of Planning and Budget Organization Mohammad-Baqer Nobakht said in a press conference on Monday.

Nobakht was quoted as saying by oil ministry’s news agency SHANA that the government had prepared the budget on expectations of selling one million barrels per day (bpd) of oil at an average price of $50. The next Iranian calendar year starts on March 20, 2020.

Iran’s President Hassan Rouhani presented a draft state budget of about $39 billion to parliament on Sunday, saying it was designed to resist U.S. sanctions by limiting dependence on oil exports.

Reuters

About Track Persia

Track PersiaTrack Persia is a Platform run by dedicated analysts who spend much of their time researching the Middle East, in due process we fall upon many indications of growing expansionary ambitions on the part of Iran in the MENA region and the wider Islamic world. These ambitions commonly increase tensions and undermine stability.