“In consultation with the Ministry of Petroleum, three price options of 42, 45, and 50 dollars were discussed which are expected to earn 68 trillion tomans (about $22.5 billion),” he said in a televised program.
Iran’s fiscal year starts on March 21.
Iranian Petroleum Minister Bijan Zangeneh says Tehran in cooperation with other OPEC member states is following up decisions to bring balance back to global oil markets aiming at 70 to 80 dollars per barrel.
“Oil prices at 70 to 80 dollars will be fair, and majority of OPEC members agree with the figure,” he said.
“Although oil prices have fallen, we hope that with the financial assets that will be unblocked, public’s purchasing power can increase,” the spokesman added in reference to the removal of sanctions and release of Iran’s assets upon implementation of the nuclear Joint Comprehensive Plan of Action (JCPOA) which was reached between Iran and world powers last July.
“Out of total $100 billion dollars which is due to be released in the wake of the nuclear agreement, about 6 billion belongs to government, 23 billion is under Central Bank’s currency assets and the rest will go to the national reserve fund,” said Nobakht who is also head of the Management and Planning Organization.
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