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Thursday 18 Feb 2016 - 12:15 Makkah mean time-9-5-1437
Iran's Oil Minister Bijan Zanganeh (AFP photo)
Tehran (IINA) – After meeting his Iraqi, Venezuelan and Qatari counterparts here on Wednesday, Iran's Oil Minister Bijan Zanganeh said his country supports any measure to stabilize the oil market and raise prices.
Zanganeh’s comments came a day after major producers led by Saudi Arabia agreed to freeze output to tackle a global supply glut.
OPEC kingpin Saudi Arabia and Russia, which is not a cartel member, said their agreement on Tuesday to freeze output at January levels was conditional on other major producers, such as Iran, doing the same, AFP reported.
Zanganeh welcomed their move but signaled it alone was not enough to resolve the problem of low prices for producers.
“This is a first step but we need others. We look forward to the start of cooperation between OPEC and non-OPEC countries,” he was quoted as saying by the oil ministry’s news service, Shana.
“We support any measure that can stabilize the market and increase prices,” he added.
In their reaction to Zanganeh’s latest remarks, experts have said there is no clear message from Iran on how they intend to support this freeze.
AB/IINA
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