Iran bases budget on oil around $81.50 per barrel
Iran is basing the oil price for its 2011/12 budget at around $81.50 per barrel and expects the price of oil to pick up again during the start of the summer season, Iran's OPEC governor told Reuters on Sunday. "We are basing the oil price in out budget which will be finalized in about two to three days at around $81.5," Mohammad Ali Khatibi told Reuters in a telephone interview, adding that prices are expected to recover as the summer season approaches. Typically Iran is one of the OPEC members that had always given a preference to higher ...
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