23 November 2015•Update: 24 November 2015
ANKARA
Iran called for closer cooperation between energy exporting countries to maintain market stability on Monday, local media said.
“It is necessary for countries that produce and export energy to coordinate policies for the sake of stability and balance of the market,” President Hassan Rouhani said at the Gas Exporting Countries Forum, according to the Tasnim News Agency.
He added that forum members should focus on “producing clean energy and preserving the environment more effectively”.
Meanwhile, Russian Energy Minister Alexander Novak predicted it would take a long time for low oil prices to increase.
“The global oil market is in a difficult situation where supply exceeds demand,” he said, according to Iranian energy network Shana.
Novak said low global demand for crude is on the rise as supply decreases.
“Russia is considered as a long-term and strategic partner for Iran in all areas,” Iranian Oil Minister Bijan Zangeneh said.
He added: “There are many areas for cooperation between the two countries and it is about time previous talks between them are put into action.”
The forum comprises nations that hold 67 percent of the world’s proved natural gas reserves, producing 42 percent of the global gas output. They account for 85 percent of total gas trade around the world.
