Iran's Foreign Ministry spokesman says the Islamic Republic and its regional rival Saudi Arabia can and should cooperate to resolve regional crises.

Bahram Ghasemi told reporters Monday in his weekly briefing that the recent OPEC agreement to cut oil production and the Lebanese presidential election were both recent examples of Iran-Saudi cooperation.

Despite initial reluctance Tehran signed on to an OPEC agreement to cut oil production in order to drive up slumping petroleum prices.

In November, the Lebanese parliament elected President Michel Aoun, an Iran ally, after a 29-month vacuum in the country's top post. He designated Saad Hariri, a close ally of Saudi Arabia, as prime minister.

Iran and Saudi have no diplomatic relations and support opposite sides in wars in Syria and Yemen.