Iran Focus
“The world financial crisis and recent developments in the world's energy supply and demand has considerably decreased oil prices in global markets”, Ali Adyani-Rad, the Rapporteur of the Majlis Energy Commission, said on Tuesday.
"We must try to predict energy market fluctuations in order to reduce our vulnerability” said Adyani-Rad.
Crude oil income accounts for 80 percent of Iran's revenues.
Ramin Pashaifam, the vice-president of the Central Bank of Iran (CBI), warned recently that the economy will face major problem if oil prices fall below 60 dollars a barrel. Other economic analysts say that Iran would be left with a budget deficit next year if oil prices remain below 90 dollars a barrel.
Crude oil prices have fallen sharply over the past three months from a record high of $147 to less than $55 per barrel.