News ID: 55469
Published: 0323 GMT November 15, 2014

Iran, Venezuela closing ranks on oil price

Iran, Venezuela closing ranks on oil price

Oil Minister Bijan Namdar Zanganeh said reverting oil prices to the past level is difficult, but prices should be restored to the extent the new market conditions allow.

Zanganeh was speaking on the sidelines of his meeting with Venezuelan Foreign Minister Rafael Ramirez in Tehran on Saturday on Iran's stance in the forthcoming 166th OPEC session in Vienna, Austria, on November 27, IRNA reported.

The Iranian oil minister said there will be discussions with other OPEC members, but no member country is expected to announce its stance before any meeting.
"What's of importance is that all OPEC members close their ranks and unite their stances in the course of bilateral and multilateral discussions," he said. 
Noting that the goal of discussions is to bring members' stances closer, Zanganeh said what's of importance is that OPEC members feel the need for promoting cooperation to improve current market conditions and the responsibility the OPEC is to take suitable action. 
On the visit of Venezuelan foreign minister, Zanganeh said historically, Iran and Venezuela's stances have been closer and they have had sincere cooperation.


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