TEHRAN - Iranian Oil Minister Bijan Namdar Zanganeh said Iran expects members of the Organization of Petroleum Exporting Countries (OPEC) to prepare the ground for its extra oil production when the sanctions are lifted from the country.

Zanganeh made the statement in a meeting with Venezuelan Oil and Mining Minister Asdrubal Chavez in Tehran on Monday, the IRNA news agency reported on Tuesday.

The two ministers stressed on returning balance to the oil market.

They also discussed ways to increase bilateral ties in the energy sector.

Iran, once OPEC's second-largest producer after Saudi Arabia, hopes to boost crude exports by as much as 1 million barrels per day (bpd) if Tehran and six major powers finalize a nuclear agreement by a June 30 deadline.

Sanctions imposed by the European Union and the United States have halved Iran's oil exports to just over 1 million barrels per day since 2012.

Some Persian Gulf OPEC members, including Saudi Arabia, have refused to cut output that is currently at 30 million bpd.

CAP: Iranian Oil Minister Bijan Namdar Zanganeh (R) met with Venezuelan Oil and Mining Minister Asdrubal Chavez in Tehran on Monday.

MA/MG