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  • Iran’s budget least tied to oil among OPEC states: Zangeneh
  • 11:43 (Thursday, February 7, 2019)
  • Minister of Petroleum Bijan Zangeneh says Iran’s budget is the least tied to oil production among OPEC Member States, adding the country’s macro policy is to cut down dependency on oil revenues.
  • “Although Iran’s budget is the least tied to oil among OPEC Member States, we are in good condition compared to neighboring countries,” said Minister of Petroleum Bijan Zangeneh on Tuesday, adding that the country’s macro policy is to decrease budget dependency on oil revenues.

    Zangeneh maintained that the government has envisaged the price of each barrel of oil at $54 for the next year's national budget bill.

    He added that in some cases, the estimated price would change, giving an example of $70 for each barrel this year despite the estimated price of $55, adding that $54 is a balanced price for next year.

    Meanwhile, the country is predicted to export 1.5 million barrels of oil per day (bpd) next year, starting from 21 March 2019, according to spokesman for presiding board of the Iranian Parliament, Behrouz Nemati.

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