Iran Says Oil Revenue Down 30% Because of Global Price Decline

The declining oil prices is having a huge impact on Iranian economy and Rouhani’s government’s attempt to get sanctions lifted.  According this this report, “the decline in crude prices and a looming Nov. 24 deadline for a nuclear accord with the U.S. and other world powers are raising pressure on Rouhani, elected last year on a platform to end Iran’s isolation and revive the economy. Brent fell today as much as 32 cents, or 0.4 percent, to $86.80 a barrel and traded at $86.90 at 7:04 a.m. on the London-based ICE Futures Europe exchange.”

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