Breaking News
 |  | 

Business

President in a phone conversation with his Venezuelan counterpart:

OPEC members' continued cooperation essential for market stability/Tehran-Caracas relations should be fostered

OPEPC members' continued cooperation is essential for market stability and increasing oil prices, said President Rouhani in a phone conversation with his Venezuelan counterpart, Nicolas Maduro on Thursday.

Mentioning agreements made in Algeria and Vienna meetings, Dr Rouhani said: At the first step, all oil-producing countries should attempt to implement and operationalise these agreements in the first six months of next year, therefore, we should continue discussion and consultation in this regard.

He also stressed that Iran is determined to support market stability and increasing oil prices, President Rouhani said: Close cooperation among OPEC member and non-members is very important for stabilising and increasing oil prices.

Referring to Iran's interest in Latin America, including Venezuela, he said: Developing and deepening ties with Latin America, including Venezuela has been very important for the Islamic Republic of Iran.

He continued referring to Venezuela's presidency of Non-Aligned Movement (NAM) and expressed hope that Caracas tap this opportunity to strengthen cooperation among member countries.

At the same conversation, the President of Venezuela also said: Agreement by oil-producing countries in Vienna meeting is a victory for all the members and its achievements will be felt more in the coming months.

He also expressed gratitude to Iran for supporting Venezuela and emphasised that his country is ready to develop ties with Tehran.

We should not let dealers to determine oil prices, said Maduro, adding: Current steps should continue until we reach the actual and fair price of oil, and cooperation between Iran and Venezuela is very important in this regard.

Source: Presidency of Islamic Republic ofIran

president-in-a-phone-conversation-with-his-venezuelan-counterpart

ABOUT THE AUTHOR


The iran News Gazette is mainly concerned with news and information about the Arab region and also covers international issues. Its main objective is to provide reliable and verified information on the Arab region for publishing on the digital landscape.