Baku, Azerbaijan, Dec. 25
By Dalga Khatinoglu- Trend:
Iranian parliament's Research Center calls the government to keep oil price in the budget bill lower.
Iranian Government set the next fiscal year's budget bill on $72/barrel and submitted a $311-billion worth bill to parliament be approved.
However, Iranian parliament's Research Center released a report on its parliament's official website saying that the logical price for next year's oil prices is around $60/barrel.
The current Brent price for delivering on Feb.15 is 60.24, while OPEC oil basket price is about $56.90.
Iranian government argues that the oil prices would increase in 2015. Reuters quoted some Arab OPEC producers that they expect global oil prices to rebound to between $70 and $80 a barrel by the end of next year as a global economic recovery revives demand.
On the other hand, The U.S. Energy Information Administration forecasted that Brent crude is estimated at $68.08 for next year.
however, the Research Center says that the current processes indicate that the most reasonable price for oil is $60/barrel.
Iranian government planned to export one million barrels per day (mb/d) of crude oil as well as 300,000 b/d of condensate in next fiscal year, which will begin on March 21, 2015. The US dollar are was set at 28,5000 rials in the budget bill.
Dalga Khatinoglu is an expert on Iran's energy sector, head of Trend Agency's Iran news service
Follow him on @dalgakhatinoglu