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Iran’s oil sales predicted at 1.5mn bpd for $54 each in 2019

Spokesman for presiding board of the Iranian Parliament said Mon. that the government has estimated the sale of 1.5 million barrels of oil per day (bpd) for the next fiscal year (starting 21 Mar. 2019).

Iran’s oil sales predicted at 1.5mn bpd for $54 each in 2019
(Friday, January 25, 2019) 11:42

According to Behrouz Nemati, "despite the US sanctions, oil sales in this period will be more than a million barrels a day.”

Noting that the said volume is envisaged for the next year's national budget bill, he added that the cabinet will submit the bill to the Parliament for deliberation on December 5th.

Reportedly, the predicted volume will be calculated at an estimated price of $60 per barrel.

Every year, the cabinet submits the budget bill to the Parliament on December 5th for ratificaiton. The price of dollar against Iranian national currency the rial has also been predicted at 80,000 rials each dollar for the next fiscal. The price of rial against US dollar in the free market is currently standing above 11,000 rials.

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