Most analysts, however, don`t expect oil prices to regain the $100 mark until 2017 or later, arguing that producers will continue to pump out more crude than is being consumed.
"I`ve been in the oil business all my life. I saw six cycles - I saw very high price, I saw low price, and this is one of them. This will not continue," Badri said at the first OPEC-India Energy dialogue in New Delhi.
"In a few months or a year or so this will change," he said.
He said OPEC does not have a target price but was looking for a fair value that meant "member countries can have a decent income and also where we can invest to (provide) more supply to the consumers".
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