Middle East Economic Survey


No 27



Iran Raises Oil Price Assumption To $95/B In 2011-12

Iran has revised its oil price assumption in the 2011-12 budget to $95/B from the previous price of $81.50/B, Irans Minister of Economic Affairs and Finance Shamsodin Hosseini told Reuters on the sidelines of an industry event in Jiddah on 30 June. Mr Hosseini said: Oil prices have been rising and we predict that they will stay at $100/B. We have asked permission from the...