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Middle East

Iran supports any move to stabilize global oil market

Associated Press
Published | Updated

TEHRAN, Iran – Iran's President Hassan Rouhani says his country supports any move to stabilize the oil market and improve oil prices.

The Sunday report on the Iranian Oil Ministry's website quotes Rouhani as saying "Tehran supports any move for stabilization of the market and improvement of oil prices based on justice, fairness and observation of fair quota for the producing countries."

Iran repeatedly said that it will take part in discussions on a possible oil production freeze, but only after its output reaches 4 million barrels per day.

Iran is trying to regain its share of the global petroleum market after the lifting of western sanctions.