Iran’s OPEC representative expected oil prices to range between $35 and $50 a barrel in 2016, but not to exceed $60 over the following four years. Iran drafted its budget for the fiscal year beginning March 20 on an assumed oil price of $35–40 a barrel. The Iranian Oil Ministry’s Shana website quoted Mehdi Asali as saying: “Oil prices next year, 2016, will range between $35 and $50, so…”