He made the remarks in a phone conversation with his Venezuelan counterpart Nicolas Maduro on Thursday evening.
Continuation of cooperation and consultations between the OPEC members is necessary for stabilization of market and increase of the oil price, the president added.
He welcomed development of Tehran-Caracas ties and voiced hope for boost of all-out ties between the two states.
Referring to Iran and Venezuela efforts for reaching agreement in Algeria and Vienna OPEC meetings, Rouhani urged execution of current agreements in the first six months of 2017.
Iran supports stability in the oil market and raise of prices, the president added.
Pointing to the role of non-OPEC oil producing countries, he noted that cooperation between OPEC and non-OPEC countries is necessary for the rise of oil price and its stability.
Iran attaches great importance to development of relations with South American countries including Venezuela, Rouhani added.
He voiced hope that Caracas uses the opportunity as the president of Non-Aligned Movement to promote cooperation among member countries.
Members of the Organization of the Petroleum Exporting Countries (OPEC) agreed on November 30 to cut the groups crude oil production by 1.2mbd in their November 30 meeting in Vienna.
Besides it was proposed that non-OPEC supplies should agree to cut their output by 0.6mbd in order to tackle the oil price slump.
Two months ago in Algiers an agreement was outlined based on which the OPEC and non-members were obliged to cut their productions in order to stabilize the market.
