The Iran Project

Iran parliament suggests $75-80/barrel oil price for budget

DUBAI: Iran’s parliament recommends basing next year’s budget on an oil price of $75-80 a barrel, a senior lawmaker was reported as saying on Monday, down from $100 in the 2014 budget plan.

“It seems the trend of decline in oil prices will continue and a return to previous oil prices is not expected,” the official IRNA news agency reported Gholamreza Tajgardoon, head of parliament’s planning and budget commission, as saying.

“Parliament and the planning commission recommend an oil price of about $80 a barrel to the government,” he said when asked about how the fall of oil prices would affect the budget.

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