Iranian Oil Minister Rostam Qassemi said on Tuesday that he held a "friendly chat" with his Saudi counterpart Ali al Naimi and "everything was OK".
The conversation took place ahead of Wednesday's OPEC meeting.
Iran and Saudi Arabia, OPEC's two biggest producers, were on opposite sides in June when OPEC failed to agree an output deal for the first time in decades.
Speaking to reporters upon arrival in Vienna for the Wednesday meeting, the Iranian oil minister said he considered the oil market is in a "reasonable" state.
Asked whether the market required more or less oil, he told reporters, "It seems that the market is a reasonable market at the moment."
Iran holds the rotating presidency over the Organization of Petroleum Exporting Countries.