The Outlook for Global Oil Market and the Iranian Economy

In his presentation, Dr. Jalali Naeeni discussed Iranian oil revenue and economic cycles, as well as the economic benefits and disturbances of the recent oil fortune.  He also presented an outlook of the world economy, of oil prices, and of economic growth in Iran.  Among some very stimulating points and arguments, Dr. Jalali Naeeni argued that the most direct benefit of the Iranian oil boom is a marked improvement in the balance of payments.  He also argued that non-oil exports have done well in Iran partly due to higher unit prices.  Imports, he explained, have risen by a staggering 260% because of the ability to pay for those imports by virtue of the oil revenues.  Amongst the downside of the oil boom and associated expansion, Dr. Jalali Naeeni proposed was the re-emergence of Dutch Disease.