Russia, Iran to continue cutting oil output together

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MOSCOW (March 28): Russia and Iran will continue cooperation in reducing oil output in order to stabilise the global energy market, according to a joint statement signed by both countries on Tuesday.

Meanwhile, Russian top gas producer Gazprom and National Iranian Oil Company (NIOC) signed a memorandum on cooperation in the gas sphere on Tuesday.

The memorandum was signed in the Kremlin when Iranian President Hassan Rouhani met his Russian counterpart Vladimir Putin.