Iran declares its support for any step check stability and raise prices in the oil market.


The Iranian President said Sunday, his support for any step check the stability of the global oil market and raise prices.

Transfer of the Iranian oil Ministry's website, today, about President Hassan Rohani said Tehran supports any step to stabilize the world oil market and raise prices.

Site attributed to Rowhani "instability and oil prices is harmful to all States, especially the oil producers."

"Tehran welcomes any move to market stability and improve oil prices based on justice, equity and fair share of all oil producers", referring to the meeting between members of the Organization of petroleum exporting countries (OPEC) and independent producers in Algeria next week.

The site said that Rowhani spoke with the President of Ecuador Rafael Korea on the sidelines of the Non-Aligned Summit in Venezuela on Saturday.

Iran operates the third largest oil producer in OPEC to increase production after Western sanctions that were imposed on them in January.

Tehran refused to participate in the previous attempt this year to OPEC countries and non-member producers such as Russia to stabilize production and talks broke down in April.

OPEC members will meet on the sidelines of the International Energy Forum involving producers and consumers of oil in Algeria between 26 and 28 September. Russia also participates in the Forum.

Sources told Reuters that OPEC likely will renew oil production talks when meeting with independent producers in Algeria.

Russia and Saudi Arabia agreed this month to cooperate in the oil markets. And said they would prevent future production.

But APS said that OPEC Secretary General Mohammed Barkindo downplayed Saturday apparently of prospects for an important deal terms said that Algeria will be informal meeting and consultation is not to take a decision.