Iran's supreme leader says plunge in oil price "political"

Iran's Supreme Leader Ayatolah Ali Khamenei on Saturday described the recent plunge in oil price as "political," according to the official IRNA news agency.

"Our common enemies use oil as a political tool and they have a role in the sharp fall of the oil prices," Khamenei said in a meeting with his Venezuelan counterpart Nicolas Maduro.

The top Iranian leader welcomed two nations' collaboration to counter the fall of the crude price, adding that their cooperation should go beyond oil sector.

He also urged the two sides to further promote two-way trade and mutual investment.

Khamenei hailed what he called the "brave" political position of Venezuela against Israeli attacks on the Palestinians, adding that Tehran is determined to continue its mutually-beneficial relations and cooperation with the Latin American country.

For his part, Maduro called the confidence between the two countries as "a valuable asset" for developing their relations.

He also called on the two countries to further enhance their ties, adding that "we are trying to reach a consensus among the OPEC member states and other oil producing countries including Russia to control the falling price of oil."

Venezuelan President Nicolas Maduro arrived in Iran on Friday for an official visit, and planed to hold talks with senior Iranian officials on a range of bilateral and international issues.

The Venezuelan leader is also expected to visit more OPEC members, including Saudi Arabia, to discuss the oil market slump. Endit