Rouhani Backs OPEC Efforts to Bring About Fair Crude Prices Iranian President met with OPEC chief in Tehran on Tuesday Iran’s President said he supports efforts by OPEC to stabilize oil prices, while reiterating that the country must restore production lost during years of sanctions. “Iran had suffered greatly under sanctions,” Hassan Rouhani said, according to a statement on OPEC’s website citing the Iranian president. Therefore it is “vital for the country to make up its lost oil production,” he said at a meeting in Tehran Tuesday with OPEC Secretary-General Mohammed Barkindo. The Organization of Petroleum Exporting Countries has a responsibility to restore market stability and Iran will support efforts to bring about fair prices, Rouhani said at the meeting, which was also attended by Oil Minister Bijan Namdar Zanganeh. Rouhani’s comments come as Russia and Saudi Arabia — the world’s biggest crude producers — said on Monday they […]