Iran President Says Oil Drop to Hurt Saudi Arabia, Kuwait

Oil’s price slump may hurt Saudi Arabia and Kuwait more than Iran, which depends less on crude exports than the other two nations, Iranian President Hassan Rouhani said.

Countries responsible for the drop in oil prices will “regret it,” Rouhani said in an address in Bushehr province, without identifying them. “If Iran suffers from declining oil prices, know that other oil-producing countries such as Kuwait and Saudi Arabia will suffer more than Iran,” Rouhani said.