Tehran, Riyadh Share Common Perspectives on Oil Markets: Minister

“All decisions concerning global oil markets over the last few months have been made by pooling minds with OPEC's de facto leader and closer collaborations are on the agenda,” Javad Owji was quoted as saying by the Oil Ministry’s news portal Shana.

Referring to the two country’s recent agreement to restore diplomatic ties after years, he noted that the National Iranian Oil Company has formulated proposals to develop joint oil and gas fields, namely the Arash offshore gas field in the Gulf, with the help of neighboring states.

“We are willing to hold talks and cooperate to develop the joint field,” Owji added.