Iran Oil Minister Bijan Namdar Zangeneh said that Tehran will not accept any plan entailing freezing of oil production. He said that Iran got the opportunity to resume oil trade since it reached an agreement with leading world powers, according to which it pledged to guarantee the peaceful nature of its nuclear activities in exchange for the sanctions against it being lifted. The decision came amid a global oil price slump due to oversupplies of crude. At the latest Organization of the Petroleum Exporting Countries meeting in Doha in mid-April, the sides failed to agree on freezing crude oil output levels at January levels to shore up prices. Saudi Arabia continues to insist that Iran, which only recently reappeared in the energy market after years of international sanctions and has been boosting its oil sales, should be part of any production cuts.