Iran's Minister of Petroleum, Bijan Zangeneh warned on Monday that oil market is fragile at the status quo.

Iran Press/ Europe: Iran's Minister of Petroleum, Bijan Zangeneh upon his arrival to Moscow stressed that Russia is one of the main oil producers of the world. Zangeneh went on to say that It is necessary to exchange thoughts and ideas with the Russian side about the oil market issues.

Visiting the Russian capital to meet country's Minister of energy, Alexander Novak, Iran's Zangeneh warned that the oil market is rather in a fragile situation in terms of demand and supply, Iran Press reported. 

For the same reason, he continued that the oil producers should be careful so that they would face no major problem in the oil market specifically due to the US recent moves against the major oil-producing countries including Russia, Iran, Venezuela, Libya, and Nigeria.

Referring to Iran-Russia petroleum cooperation, Zangeneh said that there will be some talks over the development of the oil reservoir. Furthermore, he concluded that the Russians have been always interested in oil cooperation with Iran. 101/203


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