No problem if oil slides to $ 5 a barrel : Iran

Commodity online: "TEHRAN : Iran’s flamboyant president Mahmoud Ahmadinejad on Sunday said his country could live with an oil price as low as $5 per barrel.

Speaking to reporters here, he said the oil price fall would have no major impact on the economy of the world’s fourth-largest crude producer.

Like other major crude exporters, Iran is facing declining revenue as global oil prices have tumbled by two-thirds to $50 per barrel since July amidst a world financial crisis, after years of windfall gains that have boosted reserves."