He said the rally in oil prices in recent days is because of the OPEC and non-OPEC production cuts and partly because of the cold season.

"We are in winter, a season in which prices go up as demand for petroleum products goes up," Zangeneh said.

On January 9, Brent crude futures were at $68.11 a barrel, 33 cents, or 0.5 percent, above their last close. Brent touched $68.27 last week, its highest since May, 2015.