Iran's Oil Minister, Bijan Zanganeh, said on Sunday that holding an OPEC emergency meeting may be "effective" to stop the oil price slump, Iran’s oil ministry news agency Shana reported.
"Iran endorses an emergency OPEC meeting and would not disagree with it," he told reporters in Tehran, according to Shana.
OPEC is not due to meet until Dec 4 but Algeria has called for an emergency meeting.
While OPEC rules say a simple majority of the 12 OPEC members is needed to call an emergency meeting, some OPEC delegates say unless Saudi Arabia is among those in favour no meeting is likely.For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.