Iran Press/ Iran News: "The US economy, which accounts for 25 percent of the global gross domestic product (GDP), has been selling oil at a price under zero since last night and this shows that the economies of the rest of the world are also affected by the negative consequences of Corona," Eshaq Jahangiri said.
Noting that oil was traded at $ 50 to $ 100 a barrel worldwide a few months ago, and no one believed that OPEC oil prices would fall below $ 20 today, he said: "Certainly oil-producing countries like Saudi Arabia which was said they would not be able to run their country with less than $ 70 a barrel of oil, will face a problem. This is while the announcement of a 10 million barrel drop in oil production by OPEC and non-OPEC members could not affect the fall in prices."
"The Islamic Republic of Iran has been able to adapt to the elimination of oil revenues from the country's budget," said Vice President.
"The US sanctions and the crisis have made us ready to run the country in the current situation," the official highlighted.
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Jahangiri said other oil-dependent commodities, such as the petrochemical industry and even metals, would be affected by the economic consequences of the Corona crisis, and called on universities and scientific and governmental centers to be prepared for the situation. 104/207
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COVID-19 KO's US oil
Oil falls to the lowest in more than two decades
