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Oil minister: Iran backs OPEC moves geared toward stability

Oil minister: Iran backs OPEC moves geared toward stability

The world's two largest oil producers, Russian Federation and Saudi Arabia, on Monday agreed to act together to stabilize global oil output, though it's unclear what that might entail.

A meeting between OPEC Secretary-General Mohammed Barkindo and Iran's oil minister to discuss global oil market conditions and crude prices has started in Tehran, the ministry's official website reported on Tuesday.

Given the fact that Tehran and Paris share common views on the fight against terrorism, they need to lay down a single standard to counter terrorism, Head of the Strategic Research Center of Iran's Expediency Council Ali Akbar Velayati said. The oil price later pared gains.

Russiais also expected to attend the IEF.

New brand of Iranian oil will enter world markets by end of this year on March 20, Director of the International Affairs Department of National Iranian Oil Company Mohsen Ghamsari said. Tehran says it has doubled its exports of oil and gas to 2.7 million barrels per day (bpd) since signing a nuclear deal with world powers that ended sanctions in July previous year. While these comments don't ensure that Iran would join the production freeze initiative but this conciliatory tone is definitely encouraging at a time when Iran's close ally Russian Federation has been successful in forming a working group that will study ways to reduce oil price volatility.

Targeting a price of $55 per barrel was reasonable, Zanganeh was quoted as saying.

Most Opecproducers and Russiaare pumping at capacity.

China blames US media for playing up Obama red carpet snub
Obama learned about the insult as he emerged from the Group of 20 summit in Hangzhou, China. "It would be a departure from regular diplomatic practice if the United States was in charge of the entire security arrangements for its president in the visiting country", Shi explained.

First lady set to campaign for Clinton
Republican presidential candidate Donald Trump , center left, waves as he walks with vice presidential candidate Gov. Mike Pence, R-Ind., center right, during a visit to the Canfield Fair, Monday, Sept. 5, 2016, in Canfield, Ohio.

Nebraska lines up with 10 players to honor Sam Foltz
The Huskers were flagged for delay of game on the play, but, in a classy move, Fresno State declined the penalty. The Huskers didn't have too much trouble with Fresno State , picking up an impressive 43-10 win.

Iran is helping Iraq and Syria in their war on terrorism upon requests by the latters' respective governments, President Hassan Rouhani said on Tuesday.

Attempts by OPEC and non-OPEC oil exporters to reach a pact on freezing output in April and June this year failed because Iran, OPEC's third-largest producer, declined to participate.

The world's two largest oil producers, Russian Federation and Saudi Arabia, on Monday agreed to act together to stabilize global oil output, though it's unclear what that might entail.

The Iranian president further urged Tehran and Paris to fully and swiftly implement agreements reached between the two sides during his visit to France in January following the implementation of a nuclear agreement, known as the Joint Comprehensive Plan of Action (JCPOA), between Iran and the P5+1 group of countries.

"The shuttle diplomacy is going on to clear which level is considered an aim for Iran", he added.

An informal meeting between OPEC and other producing nations is set for the last week of September in Algeria.

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