Iran Oil Minister, OPEC Chief Discuss Russian-Saudi Oil Stabilization Pact

Iran’s Minister of Petroleum and the OPEC secretary-general discussed the details of the Russian-Saudi oil market stabilization agreement.

TEHRAN (Sputnik) – Iran’s Minister of Petroleum and the secretary-general of the Organization of the Petroleum Exporting Countries (OPEC) discussed the details of the Russian-Saudi oil market stabilization agreement, an Iranian ministry source told RIA Novosti on Tuesday.

Moscow and Riyadh signed the joint statement to step up cooperation in stabilizing the oil market and ensuring stable long-term investment in China on Monday.

"In addition to oil prices and the possibilities of stabilizing production, [OPEC Secretary-General Mohammed Sanusi] Barkindo and [Iran’s Petroleum Minister Bijan Namdar] Zanganeh discussed the details of the Russian-Saudi agreement on oil," the source said.

OPEC member states are expected to renew talks on a possible oil output freeze with non-member states at the September 26-28 International Energy Forum (IEF) in Algiers, Algeria.