ABU DHABI - Qatar's oil minister said on Sunday the market is "well-supplied" and that it was too early to make a decision on OPEC's next meeting in March.
"The market is well-supplied ... and it's too early to talk about March now," Abdullah bin Hamad al-Attiyah told Reuters on the sidelines of a conference in the United Arab Emirates capital.
The recent rise in oil prices would not hamper economic recovery, he added.
Earlier on Sunday Saudi Arabia's deputy oil minister Prince Abdulaziz bin Salman told reporters at an energy conference in the kingdom's capital Riyadh, that oil prices at between $70 to $80 a barrel is reasonable, also adding it was too early to predict the outcome of OPEC's next meeting.
OPEC members achieved a 66 percent compliance last year with agreed crude output targets, a senior Iranian oil official was quoted as saying earlier on Sunday.
The producer group kept its oil output target unchanged at a December 22 meeting in Angola. OPEC made no changes to policy in 2009 after making a record supply cut in 2008 as recession eroded demand and sent prices sliding.
"The market is well-supplied ... and it's too early to talk about March now," Abdullah bin Hamad al-Attiyah told Reuters on the sidelines of a conference in the United Arab Emirates capital.
The recent rise in oil prices would not hamper economic recovery, he added.
Earlier on Sunday Saudi Arabia's deputy oil minister Prince Abdulaziz bin Salman told reporters at an energy conference in the kingdom's capital Riyadh, that oil prices at between $70 to $80 a barrel is reasonable, also adding it was too early to predict the outcome of OPEC's next meeting.
OPEC members achieved a 66 percent compliance last year with agreed crude output targets, a senior Iranian oil official was quoted as saying earlier on Sunday.
The producer group kept its oil output target unchanged at a December 22 meeting in Angola. OPEC made no changes to policy in 2009 after making a record supply cut in 2008 as recession eroded demand and sent prices sliding.
