Iran is ready to discuss the situation on the international oil markets with Saudi Arabia despite the tensions between the two countries, Iranian Oil Minister Bijan Zanganeh said.

MOSCOW (Sputnik)�� Tensions escalated between�Saudi Arabia and Iran after�the Sunni kingdom executed a prominent Shiite cleric in�January. Riyadh closed its embassy in�Tehran following�attacks on�its diplomatic missions in�the country by�Iranians protesting against�the execution.
"We support any form of�dialogue and cooperation with�OPEC member states, including Saudi Arabia," the Iranian Press TV channel quoted Zanganeh as�saying.


According to�the minister, some Gulf countries have expressed a desire for�economic gain by�maintaining oil price declines, however "what they want to�achieve is not for�the sake of�economic benefits."
"If there was a strong political will, the price of�oil would have been balanced in�just a week," Zanganeh said, as�quoted by�the media.


Since the collapse in�oil prices in�the first half of�January, officials from�OPEC member states and non-OPEC countries have been considering holding a meeting to�address the declining oil prices, which have caused significant financial problems for�some states. The decline in�oil prices have been linked with�overproduction on�crude.

According to�a report by�the International Energy Agency (IEA), Iran, one of�OPEC's leading producers, increased its daily output by�80,000 barrels in�January, while the top OPEC producer, Saudi Arabia, posted a 70,000-increase in�output during�the first month of�2016.

By Sputnik