Iran sees oil price at $42-$50 to March 2017

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Iran has projected average oil prices at $42 to $50 per barrel in a draft budget bill for the year to March 2017, a government spokesman Mohammad-Baqer Nobakht said, expecting crude to stay in the current trading range.

According to the Shana agency, Iran, together with other members of OPEC, is looking for a solution to recover the price of oil back to a range of $70-80.

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