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Iranian government pessimistic about 2016 oil price rise

The government of Iran may set the price of oil between $42 and $50 in the state budget beginning March 2016

Iran’s government has little confidence that the global price of oil will rise next year, following announcements that the price may be set between $42 and $50 in the state budget for the Iranian year beginning March 2016. In common with other producing nations, the dramatic slide in oil prices since mid 2014 has left the Islamic Republic reeling from a widening budget deficit and desperate to boost crude exports following the implementation of the nuclear deal struck with world powers in July. For the government of the president, Hassan Rouhani, an end to the numerous sanctions against its oil industry which more than halved its crude exports to around 1m barrels a day (b/d) can’t come soo

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