Iran's President Hassan Rouhani replies to a question during a news conference
IN PHOTO: Iran's President Hassan Rouhani replies to a question during a news conference on the sidelines of the 69th United Nations General Assembly at United Nations Headquarters in New York September 26, 2014. Rouhani said on Friday "courageous decisions" must be made to clinch a long-term nuclear agreement and that any deal without the lifting of all sanctions against Tehran was "unacceptable". REUTERS/Adrees Latif Reuters/Adrees Latif

Iran has reportedly warned that countries like Saudi Arabia and Kuwait will also suffer for the global oil market crash witnessed in the recent months. The current supply glut in the market has led to many analysts wondering whether there will be a strong bounce back of the commodity price in 2015.

Iranian President Hassan Rouhani reportedly spoke about the dropping oil prices in a speech that was broadcasted on a state television channel. According to Reuters, he specifically targeted Saudi Arabia and Kuwait and warned about the negative consequence of the continuing fall in the prices of the commodity.

According to the report, President Rouhani said that although Iran may be suffering from the low oil prices, Saudi Arabia and Kuwait may suffer even more. He also seemed to hint at the prevailing conspiracy theories surrounding the oil price drop when he said that the countries "that have planned to decrease the prices against other countries will regret this decision."

The president may have been hinting at the prevailing conspiracy theory that Saudi Arabia is deliberately trying to push the global oil price down in order to hurt the economies of Iran and Russia. Saudi Arabia has, however, denied all the conspiracy theories and blamed the increased supply of the commodity and a slowdown in some of the markets for the drop in oil price.

Saudi Arabia is one of the largest oil exporting countries in the world and a leading member of OPEC. Iran, which is also a member of OPEC, may have wanted other member countries to cut production in order to stabilise the oil market after the prices started to crash. The organisation, however, decided to wait before pursuing any production cut.

President Rouhani reportedly pointed out that Iran's budget is less dependent on oil sales when compared to countries like Saudi Arabia and Kuwait. According to the report, 30 percent of the Iran's budget depends on oil sales while the 2013 data reportedly showed that 90 percent of Saudi Arabia's budget and 92 percent of Kuwait's budget depended on their respective oil sales. The oil market price crash may have an impact on their budgets in 2015.

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