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News // Middle East and OPEC

President Rouhani in Venezuela: Iran supports oil market stabilization

19 September 2016 , 13:00Neftegaz.RU1358

President Hassan Rouhani says 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, reported iranian Shana on September 18, 2016.


Speaking to Ecuador President Rafael Correa on the sidelines of the NAM Summit in Venezuela on September 17, 2016,  Rouhani said that Iran welcomes expansion of cooperation with Ecuador in all fields.

He went on to say that lift of sanctions has provided a suitable opportunity for expansion of bilateral relations.


Referring to the upcoming meeting of the OPEC and non-OPEC producers in Algeria, President Rouhani said instability and falling oil prices are harmful to all countries, especially oil producers, and Tehran welcomes any move aimed at market stability and improvement of oil prices based on justice, fairness and fair quota of all the oil producers.

Correa said that lift of unjust sanctions provides the 2 countries with an opportunity to upgrade ties and they should benefit from the chance.


Speaking to Bolivian President Evo Morales, President Rouhani said there is no limit for expansion of Tehran-Bolivia cooperation and promotion of the ties will be in line with mutual interests.

Morales in turn said his country favors further contribution of Iranian companies into promotion of economic and development projects in Bolivia.

He invited President Rouhani to attend the upcoming OPEC Gas summit in Bolivia in January 2018.

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