Iran has announced its readiness to join the oil production freezing plan

Almaty. October 25. Silkroadnews – Iran is ready to join the oil production freezing plan, TASS writes.

“Iran is ready to join the plan of oil production freeze to stabilize prices at the world market”, Iranian Deputy Oil Minister Amir-Hossein Zamaniniya said, having added he considers crude price to be “fair and desirable” within the range of $55-60 per barrel.

“Such a price can be achieved in 2017”, the deputy minister said.

Giving his comments on the OPEC recent informal meeting in Algeria he expressed hope that the decisions taken at the meeting will be realized in the upcoming November session of the organization with account of the interests of both crude producers and consumers.

Earlier the Iranian officials said for Iran to join the crude freeze agreement the country is first to reach the pre-sanctions production level of 4-4.2 million barrels per day. Though it was emphasized that Tehran supports any measures aimed at stabilizing the world crude market.

In early October the head of the Iranian National Oil Company Ali Cadore reported that oil production in Iran has overcome the barrier of 4 million barrels per day.