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Russia Oil Minister, Zanganeh Discuss Cooperation in Moscow

Russia Oil Minister, Zanganeh Discuss Cooperation in MoscowRussia Oil Minister, Zanganeh Discuss Cooperation in Moscow

Russian energy minister Alexander Novak discussed bilateral and OPEC+ cooperation with Iranian Oil Minister Bijan Namdar Zanganeh in Moscow, according to a statement released by the Russian Energy Ministry late Monday.

"The ministers discussed bilateral energy cooperation between Russia and Iran, the situation on the international oil market and the possibility of further regulation of output within the framework of the OPEC+ agreement," the statement said, S&P Global Platts reported.

Novak noted the fact that Russia and Iran are in constant contact enables strengthening cooperation between the two countries across the whole spectrum of trade and economic relations, including energy, the statement said.

The two ministers also discussed meeting growing energy demand around the world and preventing the market from overheating.

"Having increased production by 1 million bpd through joint efforts, we hope to stabilize the market and show that we are responsible players, who take care to create stable and predictable rules of the game in the oil sector in the interests of all -- producers, consumers and investors," Novak said according to the statement. 

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