Iran will fare better than others after oil price drop, says Rouhani

Iran will not suffer as much as other countries from the oil price drop because it is less reliable than others on crude exports, President Hassan Rouhani said on Wednesday.

Oil prices slumped again on Wednesday, with Brent falling to the lowest since 1999, as the market struggled with a massive crude glut amid a collapse in demand for everything from gasoline to jet fuel caused by the coronavirus outbreak.

"We will be less harmed than other countries by the oil price decrease because our economy is less reliant on oil exports," Rouhani said during a televised meeting.