Iranian President Hassan Rouhani says an unstableoil market and low prices will be detrimental to both oil exporting countries and consumers.
Instability and the dropinoil prices willnot onlybe detrimental to member countries [of the Organization of the Petroleum Exporting Countries], but will also be inconsistent with the major objective of environment conservation across the world, Rouhani said in a meeting with OPEC Secretary General Mohammed Barkindo in Tehran on Tuesday.
He expressed hope that oil prices would return to a stable and fair statethrough cooperation among OPEC members and their prudence.
Today, we must all pursue a common goal which is having a balanced market and fair and just shares among OPEC member countries, the Iranian president said.
[caption id="" align="alignnone" width="555"]
Iranian President Hassan Rouhani (R) shakes hands with OPEC Secretary General Mohammed Barkindo in Tehran on September 6, 2016. president.ir[/caption]He also declared Irans support for any decision to restore stability tothe global oil market.
The Islamic Republic of Iran will support any move in line with market stability and the improvement of oil prices based on justice, fairness and respectingfair shares for oil producing countries, Rouhani pointed out.
Oil-exporting countries have been seeking a deal to cap production levels in an attempt to prevent a further drop in global oil prices, which in recent years saw a fall from a high of 147 dollars a barrel to a low of around 25 dollars.
Saudi Arabia, however, hastorpedoed plansfor a freeze on global production aimed atstabilizingoil markets, arguing that Iran must freeze its output.Tehran, meanwhile, says that it wants to raise production to levels prior to the imposition of the now-removed US-led sanctions over its nuclear energy program.
Iranian Minister of Petroleum Bijan Zangeneh said on Tuesday that Iran supports any potential measures aimed at restoring stability to global oil market, adding that most OPEC member states support oil prices between $50 and $60 per barrel.
'Oil producers, consumers must work to remove challenges'
The OPEC chief, for his part, commended Irans support for the international bodys independence and growth.
Barkindo said oil producing and consuming countries must boost cooperation to settle the existing challenges in the global market, adding that OPEC member statesmust do their part in solving problems that face the market.
He also hailed Irans great achievements in the energy sector and said the country has managed to make great progress and take major steps in various fields of economy, particularly in theoil and gas industry, in a shortperiod after the removal of sanctions against Tehran.
Iran, which is OPECs third largest producer, has been ramping up crude oil output since a nuclear agreement, known as the Joint Comprehensive Plan of Action (JCPOA), between Tehran and the P5+1 group of countries took effect on January 16, removing obstacles in the way of more crude production.
By Press TV
