"Those that have planned to decrease the prices against other countries will regret this decision," he said.

"If Iran suffers from the drop in oil prices, know that other oil-producing countries such as Saudi Arabia and Kuwait will suffer more than Iran."

The warning follows slightly more reserved comments made by Rouhani earlier this month when he described Saudi Arabia's inaction as a "strategic mistake", but hoped that the kingdom would respond.

With western sanctions placed on Iran over its nuclear program leading to a drop in its oil exports over the last few years, the global oil price drop has left the country in a dire situation.

Oil exports account for about a third of the country's budget income. While it had adjusted to the sanctions thanks to the previously high oil price, that buffer no longer exists.

Coming at the same time as Rouhani's warnings, the United Arab Emirates energy minister again reaffirmed OPEC's resolve to keep up production.