“We should recover oil price to the extent that the market’s new situation allows,” Zanganeh told reporters on the sidelines of his meeting with Venezuela's visiting Foreign Minister Rafael Ramirez in Tehran.
He pointed to his meeting with Ramirez, saying that ahead of the OPEC's next meeting, which is slated to be held in November 27, members of the organization hold consultations to make their viewpoints closer.
“Historically, Iran and Venezuela's views are very close to each other and there has always been a sincere cooperation between the two nations,” Zanganeh said.
Ramirez also said that his trip to Tehran and the meeting with the Iranian oil minister were aimed at sharing comments with the Islamic Republic and discuss the current situation of global crude oil market.
He noted that $100 per barrel is the desirable price for oil.
Earlier on October 26, the director for strategic planning at the Iranian Oil Ministry, Saeed Qavampour, had said that the ministry would take necessary steps to deal with the recent fluctuations in oil prices through using energy diplomacy.
He emphasized that the Islamic Republic will implement its energy policies in coordination with other oil-producing countries.
Oil prices have fallen to below $79 on abundant and weak demand from $115 a barrel in June.