“It is regrettable that regional [oil-producing] countries are not cooperating on the falling oil prices and its negative implications,” Zarif said in a meeting with Iraqi Parliament Speaker Salim al-Jabouri in the Iranian capital Tehran on Tuesday.
He voiced Tehran's willingness to engage in all forms of cooperation with its western neighbor Iraq especially in political, economic and parliamentary fields.
Zarif also said that Iran and Iraq's progress and security are intertwined.
On Tuesday oil prices fell below $55b for US crude and was even lower for other regions of the world which was unprecedented since May 2009.
The five-year low was exacerbated following a refusal by some major oil producers, including Saudi Arabia, to cut their crude output.
For his part, Jabouri underlined Iraq's determination to combat terrorist groups, including ISIL, and said that all Iraqi ethnic and religious groups were united in the fight against terrorist groups.
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