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Oil Prices to Damage Riyadh More Than Tehran

Source: www.gulfoilandgas.com 12/28/2014, Location: Asia

The ongoing oil price slide will inflict more damage on Saudi Arabia than on Iran, an MP has said.

Bahram Biranvand said the oil price falls are a plot “designed by the US and its allies,” adding that lower oil prices will further motivate efforts in Iran for agricultural exports.

“The oil price falls have cut the revenues of Muslim countries in the [Middle East] region,” he said.

Biranvand said Iranians have realized in recent years that they should not rely on petrodollars.

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