Iranian oil minister Bijan Zanganeh said on Tuesday that he was still optimistic about implementation of a deal among oil producers to freeze output levels which was reached in Algeria in September, the ministry’s news agency SHANA reported.

Asked if the freeze deal would be implemented, Zanganeh told reporters in Tehran: “We should wait, I am optimistic.”

He denied reports that Egypt seeks to buy crude oil from Iran, the semi-official news agency Fars reported.

Saudi Arabia suspended its oil agreement with Cairo last month.

Source: www.reuters.com