BREAKING NEWS

Iran finds Doha meeting, despite failure, a positive step

By REUTERS

APRIL 23, 2016 12:55

Iran's oil minister said on Saturday that last week's Doha meeting to freeze oil production, despite its failure, was a positive step and Iran would support any plan to stabilize the market.

"Doha meeting was not fruitful but we see it as a positive step as it initiated negotiations between OPEC and non-OPEC member countries and showed to the main oil producers in OPEC that something should be done to change the situation," Bijan Namdar Zanganeh was quoted as saying by the oil ministry's news agency, SHANA.

Zanganeh, who was meeting the energy minister of South Africa in Tehran, added that Iran's oil production has increased by 1 million barrel per day since the lifting of international sanctions on Iran in January. He said Iran will continue increasing oil production until it regains its lost share of oil market.

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