VOL. XLI
No. 27
6-July-1998
OPEC
Declining Oil Prices And Budget Revenues
In Iran, the government has reported a $1.26bn shortfall in oil revenue in thefirst quarter of the Iranian year (21 March-20 June), according to an "unidentifiedoil official" quoted in the Iranian daily Jameah of 30 June. The official saidthat in the first quarter an average 2.35mn b/d of crude oil were exported at a price of$11.30/B, generating a total oil revenue of $2.47bn, which is less than the projected$3.73bn. The...
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