TEHRAN (Tasnim) A senior Iranian lawmaker, who is a member of the parliaments energy commission, ruled out the possibility that the drops in oil prices will continue, saying that on the contrary, the prices will rise in the upcoming year.Although the oil price is continuing its downward trend in global markets, predictions indicate that it will not remain low in the upcoming year, MP Seyed Mousa Mousavi told the Tasnim News Agency on Saturday.
This situation is neither acceptable for Iran, nor other members of the Organization of the Petroleum Exporting Countries (OPEC) and even non-member countries, he said.
It is predicted that the oil price will rise in the next year, but the exact amount of the increase needs further examination, the Iranian parliamentarian noted.
The oil price has fallen from $100 per barrel in June to $60 per barrel in December, due to a drop in global demand and increased oil production in the US.
The prices have been on the downward spiral after OPEC member states decided to keep their crude output unchanged back in November.
By Tasnim News Agency
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