Iran Eyes $130 Oil While at Least 50 Tankers Sit Stuck in the Gulf

An oil price of $130 per barrel could be one of the scenarios of Iran’s economic planners preparing the budget for the next Iranian year starting March 2027, according to Iranian media.

It is not clear yet what baseline Iranian economists will use in next year’s budget, but the Plan and Budget Organization may include a scenario assuming $130 a barrel oil, according to Fars News Agency, which is close to the Islamic Revolutionary Guard Corps (IRGC).

It is highly unlikely the baseline would be as high as the $130 oil floated in Iranian media in recent days. Iran has typically budgeted at very conservative oil price assumptions.

Regardless of where oil prices will be next year, Iran may not benefit from oil price increases at all, due to the U.S. blockade crippling Iranian oil exports.

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