Iran draft 2014 budget assumes 1.1 million bpd of oil exports: Shana

December 03, 2013 - 1:13:31 pm

DUBAI: Iran's draft budget for the next Iranian year assumes the country will export around 1.1 million barrels per day of crude oil, oil ministry news website Shana said on Tuesday, indicating a rise of around 10 percent from current levels.    

Shana quoted government spokesman Mohammad-Baqer Nobakht as saying the budget bill for the next year, which begins in late March, would be based on an average oil sales price of $100 per barrel.

U.S. and EU sanctions have slashed Iran's oil exports from around 2.5 million bpd to about 1 million bpd. 

Iran's draft budget, which goes before parliament on Wednesday, shows the government is not expecting a significant rebound in exports next year, despite last month's breakthrough nuclear deal with the West. (Reuters)   


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