Current oil prices harm world market stability

TEHRAN April 20 (Shana)–Iran’s President Hassan Rouhani has said that the current oil prices are harming world market stability.

“Today’s oil price is detrimental to producers and world market stability. Therefore, we hope that efforts by Iran and Algeria along with other like-minded countries would continue for the return of balance to oil market,” Rouhani said after receiving credentials of new Algerian ambassador to Tehran on Monday.

Iran and Algeria are both members of the 12-member Organization of the Petroleum Exporting Countries.