Iran's Oil Minister Bijan Namdar Zanganeh said in an interview on Wednesday that most OPEC members would like to see oil prices at $70 to $80 a barrel.

He pointed out that Iran plans to boost its oil output despite the low oil prices as U.S. oil producer increased their activity.

"Some Opec members believed last year that lower prices could push expensive oil from the market. For some months we witnessed the exit of rigs from shale oil, now all of them are returning to these fields and their level of shale oil production didn't change considerably," Zanganeh said.