VOL. XLI
No. 17
27-April-1998
IRAN
Iran Downgrades Oil Price Assumption Again To $12/B In 1998-99 Budget
Iran has revised downward the oil price assumption in its budget for the currentIranian year (which started on 21 March) to $12/B from $16/B because of persisting weakoil prices. Announcing the new price on Iranian TV, President Mohammad Khatami said:"In the new year we faced a $4bn decline in income due to the fall in oilprices so in the short term we based the oil price on $12/B and any...
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