Iran’s Oil Minister Bijan Zanganeh attends an extraordinary ministerial meeting of the Gas Exporting Countries Forum (GECF) in Tehran November 21, 2015. Iran believes a global agreement to freeze oil output will not be enough to help prop up prices as the world is producing too much crude, Iranian oil sources told Reuters. Iranian Oil Minister Bijan Zanganeh and his counterparts from Qatar, Iraq and Venezuela held talks in Tehran on Wednesday aimed at persuading Iran to join a global pact to restrain output, agreed this week by OPEC leader Saudi Arabia and non-OPEC member Russia, the world’s two largest oil exporters. Zanganeh chose his words very carefully after the meeting saying Iran, OPEC’s third largest producer, supported the initiative as a first step to rebalance the markets and help prices recover from their lowest in over a decade. But during talks Iran stuck to its standard line that […]