Iran oil revenue plunges 30% because of global price decline
An Iranian man walks along of the phase 15-16 of the South Pars gas field facilities in the southern Iranian port of Assaluyeh. Iran’s $400bn economy shrank more than 7% over the past two years, according to the International Monetary Fund, as sanctions depressed oil output to the lowest since 1990 and deterred investment. Iran’s revenue from crude sales, the Opec member’s biggest export, plunged 30% because of the recent decline in global oil prices, according to President Hassan Rohani. “International conditions are such that the ...
Click
To Read Full Article