The president of the Organization of Petroleum Exporting Countries said Tuesday there was no need to add more crude oil to the market at present.
"The supply is there. We are (now) entering a period of lower demand," Khelil later told reporters after being asked whether OPEC might raise production.
OPEC is scheduled to hold its next oil output policy meeting in September, though it may informally meet later this month to discuss oil market developments, officials have said.