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The report of Majlis Research Center on forecasting oil pricesMajlis Research Center reviewed available estimates of future oil prices.
According to the Public Relations Office of Majlis Research Center, over the past 10 years; our estimates of oil prices has always been negative in the budget next year, the Office of Energy, Industry and Mining Studies said. This means that forecasted price is always less than the real price of oil next year that led to the current budget cuts anticipated in the budget meanwhile in the capital reserve increase and the budget deficit risk and the need for the budget amendments reduced, the Office added.
If the government regulated, negative estimates of oil prices will supply the interests of our country further but in the absence of the rule, negative estimates of oil prices will lead to funding without criteria for the government and the government will be able to access no criteria resources and will cost it without restriction by obtaining funds from the budget oil prices differential and its actual prices, the report adds.