Iran’s Oil Revenue Falls 30% Because of Global Price Decline

Iran’s revenue from crude sales, the OPEC member’s biggest export, dropped 30 percent because of the recent decline in global oil prices, according to President Hassan Rouhani.

“International conditions are such that the country’s main source of income, i.e. oil revenues, has been cut by some 30 percent,” Rouhani said in remarks to parliament published yesterday on Shana, the Oil Ministry’s news website. “We have to deal with the new conditions and the global economic conditions.”