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Oil Minister: Iran could support any effort to stabilize oil prices

Bijan Zanganeh said while he supports a production ceiling to stabilize oil prices

Baku. 17 february.REPORT.AZ/ Iran could support any effort to stabilize oil prices, including cooperation between OPEC and non-OPEC oil producers, the nation's oil minister said after a meeting Wednesday, Report informs citing the Reuters.

Oil Minister Bijan Zanganeh said while he supports a production "ceiling" to stabilize oil prices, it's the first of several steps that should be taken, according to Reuters reports quoting the ministry's official Shana news agency.

OPEC oil ministers had traveled to Iran to talk about a possible production freeze between global oil producers. Oil prices bounced slightly on the Iranian oil minister's comments, with U.S. oil popping above $30 per barrel and Brent futures nearing $34.

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