TEHRAN,Iran, Jan.15
Trend:
OPEC has recently announced that while the tension between Iran and the US has cooled down, the oil price is falling from $71 per barrel that was previously high, following the assassination of IRGC commander Qassem Soleimani.
Brent oil price and West Texas Intermediate were $64.85 and $58.97 per barrel before the news released.
"The oil market is a political market and regional tension would directly effect the rise or fall of oil prices," Member of Iranian parliament's energy committee Hedayatollah Khademi told Trend.
"The US president has announced days ago that his country is no longer in need of oil from the Middle East and his words caused the oil price to drop," he said.
Khademi then went on to speak of Iran's upcoming budget plan and oil dependency as well.
"The rumors that in the next Iranian year (March 21, 2020) budget plan, the oil dependency will be reduced, is unlikely, since during the past several years, the country's budget was based on oil revenues. Considering the sanctions and sharp decline in oil sales, there's no other way but to compile a budget without the oil income," Khademi said.
"A major part of our budget comes from oil sale revenues and in case if the oil sale drops, the volume of import will reduce as well, and the customs and fares will fall as well," he added.
"In next Iranian year, we would face more budget deficit and high inflation and unemployment compare to current year (started March 21,2019)," he said.