Oil Price Drop, Nuclear Deal Delay Unsettle Iran’s Economy

//Oil Price Drop, Nuclear Deal Delay Unsettle Iran’s Economy

Oil Price Drop, Nuclear Deal Delay Unsettle Iran’s Economy

By | 2014-12-23T02:05:46+00:00 December 23rd, 2014|Middle East|0 Comments

TEHRAN—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…