A glance at Iran's energy sector in 2015
Iran's energy sector, like other industrial sectors experienced low growth in 2015, despite a relatively boom in the previous year, mostly because of the budget shortage due to plunging the oil price, which the country heavenly depends on petrol dollars. The International Monetary Fund estimated that Iran's oil revenues decreased by $20.1 billion to around $35 billion the current year, while GDP growth is estimated to be about -0.5 percent to 0.5 percent. According to OPEC's statistics, Iran's heavy oil price almost halved in 11 months of 2015 to about $50/barrel. However, according to Iranian media outlets, the figure even plunged to below $30/barrel in min-December. Coming to upstream sector, the country's oil output remained almost unchanged, while the gas condensate output increased slightly. In total, according to the US Energy Iran's total crude oil production (including gas condensate) stood at 3.3 million barrels per day in 9 months of 2015, indic