VOL. XLI

No. 02

12-January-1998

IRAN

Iran To Cut Budget Oil Price Next Year To $16/B

Iran's oil revenue in the next Iranian fiscal year (1377)starting on 21 March will be calculated on the basis of a price assumption of $16.00/Binstead of the previous $17.50/B, following the sharp decline in oil prices in Decemberand early January. The Speaker of the Iranian Parliament, Mr. Ali Akbar Nateq-Nouri, saidon 7 January that parliament and the cabinet were currently studying next year's budgetbill on...