Iran supports decline in oil output

Tehran is convinced of the need to reduce oil production, and advocates stepping up efforts to stabilize prices and the market as a whole. Iranian Ambassador to Russia Kazem Jalali told RIA Novosti.

"Iran, as both a member of OPEC and a member of OPEC +, is convinced of the need to reduce output and cooperation of all oil-producing countries to create a balance in the market and stabilize oil prices. To this end, the Iran's Oil Minister Bijan Namdar Zanganeh, held talks with some of his colleagues, including Minister of Energy of the Russian Federation Alexander Novak. Iran advocates that oil prices should be balanced and stable - this is in the interests of both producers and consumers of oil, "the ambassador said.