Iran crude oil price at around $54/b next calendar year: Research center

SHANA – The Iranian Parliament Research Center predicted next calendar year’s average prices for Iran’s crude at 54 dollars per barrel.

The center released its oil price outlook for 2018 which forecast a price of around 54 dollars per barrels for Iran’s crude oil during the year.

“Oil prices fluctuated dramatically in 2017 but they are predicted to stay in the range of 54 dollars per barrel for the next year,” the report said.

The report also said that the prices will see a drop in the first half of 2018 from the prices back in November 2017, but will gradually rise in the subsequent months.

The average prices of $55, $53, $57 and $59 per barrel for every quarter of the year for Brent crude futures, the international benchmark for oil prices, was predicted by the Iranian parliamentary research center.