Russian Energy Minister Alexander Novak said on Monday that a deal on freezing oil output between OPEC and non-OPEC members could be signed in April. He added that this agreement could exclude Iran as it plans to boost its production.

"Iran supports the need for coordination between oil exporters, including a possible freeze. But Iran's position is that they have to first restore their production volumes," Novak said.

Iranian Oil Minister Bijan Zanganeh said on Sunday that the country was not ready to freeze its oil output until output of 4.0 million barrels a day was reached.