Oil minister: Iran supports price of oil at 55 USD/barrel

Baku. 6 September. REPORT.AZ/ Iran's oil minister Bijan Zanganeh said 55 USD per barrel "brings desired, economic and beneficial oil production revenue for OPEC membersand in particular of Iran. Report informs citing the RIA Novosti.

"Iran supports any decision by oil producers to return stability to oil markets. The desired price for most OPEC members for oil is between 50 and 60 dollars," said Bijan Zanganeh.

The minister made his statement after a meeting with Secretary General of OPEC Mohammed Barkindo.

During the meeting the sides discussed the latest developments in the oil market, the issue of freezing of production volumes, as well as parts of the Russian-Saudi agreement to stabilize oil prices.

According to the Iran's representative, Tehran supports any measures aimed at stabilizing the market.