TEHRAN ( 2008-11-18 14:54:01 ) :Iran's oil minister said he expected Opec to decide on holding talks with non-Opec states when the cartel meets in Cairo and said such cooperation was important, IRNA news agency reported on Tuesday.

The Organisation of the Petroleum Exporting Countries (Opec) meets in the Egyptian capital on Nov. 29 to discuss tumbling oil prices, which slipped below $55 a barrel on Tuesday. Crude peaked at $147 a barrel in July.

"One of the decisions of the consultation meeting of Opec in Cairo will be to start negotiations with non-Opec producers in order to secure their cooperation with Opec in managing the oil market," Gholamhossein Nozari was quoted as saying.

"Increased interaction between non-Opec producers and Opec producers, under the current oil market conditions, is very important," the minister said.

Nozari said increasing output by non-Opec states would neutralise the impact of any cuts by Opec.

The minister's comments echoed remarks by other Iranian officials who have called for cooperation by those outside Opec.

IRNA said Nozari had held telephone talks with Russian Energy Minister Segeo Shmatko on Sunday.

The Iranian minister was quoted as saying: "Russia as a major oil producer and exporter in the world must take part in oil market management."



Copyright Reuters, 2008