Iran's Minister of Petroleum Bijan Zangeneh arrived in Vienna late on Wednesday to attend the the 169th meeting of the Organization of the Petroleum Exporting Countries.
Zangeneh is expected to discuss issues of mutual interests with his counterparts on the sidelines of the OPEC meeting.
The OPEC should work toward maximizing the interests of its members, Iran's oil minister said prior to the meeting.
The organization should help stabilize the market and it should be able to manage the situation when markets get unbalanced, he said.
Iran is supportive of such a trend adopted by the OPEC, the minister said.
Iranian Finance and Economic Affairs Minister Ali Tayyebnia is also in Vienna to attend the 169th ordinary meeting of the OPEC.
The global oil market presently is relatively balanced and OPEC oil basket price has increased almost five dollars as compared with the 168th meeting of OPEC around six months ago.
It is expected the participants formulate the OPEC policy for next six months, discuss the situation of oil market and elect a new secretary general for the organization.
According to reports, OPEC countries have produced 32.439 million oil barrels a day in April.