Crude oil prices have recently dropped to near $101 ahead of the next OPEC meeting on May 31.
"Negotiations and consultations have begun with OPEC members and it is likely that an agreement could be reached between the members without holding any extraordinary meeting," Nikzad Rahbar said on Tuesday.
He noted that the OPEC members are all unanimous that oil prices should remain above $100 per barrel.
"Under the present circumstances, $100 (per barrel) is a reasonable price for crude oil, but any price lower than that will be definitely unreasonable," Nikzad Rahbar added.
Last week, the Iranian Oil Minister Rostam Qassemi said Iran wanted oil prices to stay above $100 per barrel, noting that "an oil price below $100 is not reasonable for anyone".
In December, the Iranian oil minister ruled out the possibility of decreasing oil prices in the market below $100 per barrel, but meantime said if the prices fall to that level the Organization of Petroleum Exporting Countries (OPEC) will be called for an emergency meeting.
"In the recent meeting, the OPEC member states agreed to hold an emergency meeting as soon as crude prices fall below $100 per barrel," Qassemi said, addressing an economic seminar in Tehran at the time.
The oil minister noted that the price of each barrel of crude for 2013 is estimated at above $100.
In July, Qassemi called on the OPEC members to convene in an emergency meeting, warning that "the current market value of oil has gone illogical".
