Rouhani: oil countries to quickly restore oil balance

Iranian President Hassan Rouhani said during an official visit to France that oil prices won't remain low in the long term.

"The price of oil is at a low level. I don't think it will last in the long term. The pressure on oil-producing nations means balance will be restored in the short term," RIA Novosti cited him as saying.

According to the Minister of Energy of Russia, Alexander Novak, Saudi Arabia initiated a meeting of oil producing countries to discuss the possibilities of reducing its production.