Oil min: Iran supports every decision to bring stability to oil market

EghtesadOnline: Minister of Petroleum Bijan Zangeneh said on Tuesday that Iran supports every decision of oil producers to bring stability to the oil market.

News ID: ۷۳۶۷۱۴

07 September 2016

Zangeneh made the remarks after a meeting with Secretary General of Organization of the Petroleum Exporting Countries Mohammed Sanusi Barkindo.

Sanusi Bakindo is currently on a visit to Tehran, reports IRNA.

Zangeneh said that desirable price for most of OPEC members are 50 to 60 dollars for OPEC crude basket.

He evaluated 55 dollars as a suitable price, saying that this price would have appropriate income for member states and it would be economical and useful so that the rivals can not increase their production.

Zangeneh said that it is the first visit of Mr. Barkindo to Iran as secretary-general of OPEC and that Iran supports him in his new post.

We held good discussion concerning oil market, Zangeneh said, Iran's stance in the upcoming informal meeting of OPEC members in Algeria was explained for Secretary General Barkindo and he briefed Iran om the outcome of his negotiations with representatives of some member states.

Mohammed Sanusi Barkindo was elected as the 28th Secretary General in 169th meeting of OPEC on June 2, 2016.
He served as president of Nigerian National Oil Company.
The informal meeting of OPEC members and non-OPEC oil producers will be held on September 26-28 in Algeria on the sidelines of International Energy Forum (IEF).
Iran will attend the meeting of the oil ministers.