Russian Energy Minister Alexander Novak lauded Iran for maintaining the present production level in a bid to support the crude prices in the international markets.
'The Iranian side had a constructive approach towards the some oil producing countries for keeping the present crude output for the sake of its oil prices,' Novak said on Sunday.
The Russian energy minister pointed to the recent consultations among the oil producing countries, and said, 'These consultations are continuing and the Venezuelan energy minister has informed me about the results of these negotiations.'
'Some of the oil producing countries have voiced their readiness to increase crude output and their total share of production in the global markets account for 75 percent of the international oil production,' Novak added.