Iran persuades non-OPEC producers to cooperate with OPEC for market stability

Iran's Minister of Petroleum, Bijan Zanganeh, persuaded non-Organization of the Petroleum Exporting Countries (OPEC) producers to cooperate with OPEC for market stability on Sunday, reported the semi-official Fars news agency.

Commenting on the meetings between Russian and Saudi Arabian energy officials, Zanganeh said that "we hope the two sides will reach agreements and the non-OPEC states and Russia will accompany members of the organization."

"We hope Russia and non-OPEC members will reach an agreement on the decision of the OPEC members to cut oil production," he said on the sidelines of an energy seminar in Tehran, referring to the Algeria accord framework.

Asked if Russia will attend the OPEC member states Nov. 30 meeting in Vienna, Zanganeh said that "the regular session of OPEC in November will be attended by the oil and energy ministers of the organization in the permanent secretariat of the organization. Russia will not take part in the meeting."

On Oct. 3, Iranian President Hassan Rouhani said that OPEC must hold "serious negotiations" with non-OPEC producers to increase and stabilize oil prices in international markets.

"All must make efforts so that the committee of experts would take decisions to clear the way for increasing global oil price in the OPEC meeting in November," the Iranian president said during a telephone conversation with Venezuelan President Nicolas Maduro.

In September, OPEC members agreed during an impromptu meeting in Algeria to cut crude oil production by 750,000 barrels a day to raise crude oil prices. Endit