Iran's light crude oil price hits $62 per barrel

The average price of Iranian oil has been $ 49.93 for each barrel since the beginning of 2017.

Predictions on extending the plan for lowering oil production by OPEC members and approval of non-OPEC members led to hike in oil prices.

Last night President Hassan Rouhani in his televised speech said following the implementation of the deal (on January 16, 2017), Iran managed to raise its oil and gas condensates’ sales to desirable levels.

OPEC members are to hold another meeting on November 30 in Vienna to mull decrease of oil production.

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