Iran, number two oil producer in the Organization of Petroleum Exporting Countries, would support a decision to cut production by the group at an extraordinary meeting set for Cairo later this month, the Mehr news agency reported Friday.
"OPEC members have decided to hold a meeting on Nov. 29 in Cairo to discuss recent prices. The current market situation is worrying," it quoted Iran's OPEC representative Mohammad Ali Khatibi as saying.
"In light of dwindling oil prices and instability in the market, Iran will support an oil production cut," he added.