Iranian Oil Minister Bijan Zanganeh said that the oil market has positively reacted to the decision made by members of the Organization of Petroleum Exporting Countries (OPEC) at their informal meeting in Algeria.
Zangeneh said the more such agreements become operational, things will get better. "The market reaction has been positive," IRNA cited him as saying.
He said that any removal of surplus of the oil supply will help improve things, adding that "especially, cooperation of non-OPEC producers would be effective".
