Iran predicts daily export of 1mn barrels of oil per day in next year

TEHRAN, Dec. 09 (MNA) – Head of Plan and Budget Organization Mohammad Bagher Nobakht said the country is predicted to export one million of oil barrels per day (bpd), $50 a barrel, in the next year (to start March 21, 2020).

He made the remarks on Mon. in a press briefing and elaborated on the details of next year’s budget bill and added, “the 2020 Budget Bill is the third budget that has been compiled and formulated while considering the country's condition under sanctions."

He pointed out that 1.5 million barrels of oil per day (bpd) were predicted in the current year’s budget bill (started March 21, 2019), each barrel valued at $55.

Presently, each barrel of crude is sold at $64.

In the 2020 Budget Bill, which was submitted by Iranian President Rouhani to the Parliament on Sunday, the conversion exchange rate for importing basic goods and staples has been considered as 42,000 rials per dollar.

Elsewhere in his remarks, Nobakht predicted that export of oil and gas will fetch $18.250 and $4 billion worth of revenues for the country respectively.

Despite tough sanctions imposed by the United States against Islamic Republic of Iran, the country's export of oil still continues, the head of Plan and Budget Organization added.

MNA/IRN83587001

News Code 153198

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