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Iran supports any step to help oil market recover – oil minister

Iran supports any step to help oil market recover – oil minister

The announcement was made following the Venezuelan President’s suggestion of a summit to defend oil prices

Iranian oil minister Bijan Zanganeh said on Tuesday that Tehran supports any step to help the recovery of the oil market, the ministry’s news agency Shana reported.

“Iran supports and welcomes any steps to help the oil market recover and escape the current conditions,” Shana cited Zanganeh as saying in reference to a proposal made by Venezuela to coordinate between OPEC and non-OPEC oil producers.

Venezuela has for months been pushing for an emergency OPEC meeting and joint coordination with Russia to stem a tumble in oil prices, but with little success.

Venezuelan President Nicolas Maduro said on Saturday, he has suggested to the Emir of Qatar a summit for heads of state of OPEC countries to defend oil prices.

The Venezuelan leader, who met with the emir, Sheikh Tamim bin Hamad al-Thani during his visit to OPEC nation Qatar, added he had also suggested non-OPEC countries, which include Russia, take part.

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