Forecasts of 2019 oil demand growth may slip below 1 million barrels a day in the coming months
In the first quarter, coordinated production curbs by the Opec and its allies helped oil rally the most in almost a decade, restoring prices to over $70 a barrel
Oil has rallied about 37 percent this year as Saudi-led production cuts, together with receding fears over the global economic growth outlook, appear to be easing investor concerns.
OPEC is due to meet in April and then again in June to decide its output policies
Combined WTI, Brent net-longs at highest level since October
Falih said it was hard to foresee the situation in June when the agreement between major oil producers, including Russia, expires
While it might be personally problematic for Manuel Quevedo, who also heads state-owned oil giant PDVSA, his role as OPEC president probably won't be affected
OPEC and a group of non-OPEC countries including Russia, an alliance known as OPEC+, are reducing oil output in 2019 to avoid a potential supply glut that could weigh on prices
American sanctions, waivers and a surprise summer supply boost complicated the group's efforts to balance oil supply and demand
Energy Minister Al-Falih says group ready to do more if needed
Both Mazrouei and Rumhi said there was no need for OPEC and its allies to meet before April when they are set to decide their output policy for the rest of 2019.
The nominal value of the group's crude production, based on the average price of a basket of OPEC crudes, surged by 33 percent last year, to $826 billion
Weaker-than-expected US factory data also added to economic worries
US President Donald Trump has been a vocal critic of Opec, blaming it for high oil prices and urging it to increase output
OPEC said its oil output fell by only 11,000 barrels per day, month on month, to 32.97 million bpd in November, despite President Donald Trump's reimposition of sanctions on Iran
The decision provides India a huge bargaining chip in the oil and gas world of West Asia, though there are some downside risks as well
Underlining that consumer is an important focus in the meeting, Saudi Energy Minister said main aim is to bring supply demand of crude oil in balance
The kingdom chose Trump over Opec back in June. Now, the rest of the producer group may want payback
The OPEC has pumped 33.11 million barrels per day this month, down 160,000 bpd from October, which was the highest by OPEC as a group since December 2016
Worried by a drop in oil prices and rising supplies, OPEC is talking again of reducing production just months after increasing it