Friday, December 9th | 15 Kislev 5783

Subscribe
December 23, 2014 10:09 am
0

Oil Price Drop and Failure to Finalize Nuclear Deal Hits Iran’s Economy Hard

avatar by News Editor

US Secretary of State John Kerry shakes hands with Iranian Foreign Minister Javad Zarif in Geneva, November 2013. Photo: Wikicommons

Wall Street Journal – Plummeting oil prices and the failure so far to conclude a nuclear agreement are dealing a double blow to Iran’s economy just as it was starting to recover.

Oil prices, which have fallen about 50% since June, resumed their decline on Monday after Saudi Arabia, the world’s largest crude exporter, said it may boost production despite a global glut. The slide in prices is strangling revenues in Iran, a country dependent on oil money.

Read full story.

Share this Story: Share On Facebook Share On Twitter

Let your voice be heard!

Join the Algemeiner

Algemeiner.com

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.