OPEC Secretary General Abdalla Salem El-Badri, speaking to global economic officials gathered in Washington, said there are signs global growth is sputtering now that many countries are ending their stimulus efforts.

"The impact of slowing economic recovery on oil demand is already evident, as growth in oil consumption is easing in some parts of the world," said the head of the Organization of Petroleum Exporting Countries.

"Next year, the situation is not expected to improve considerably. In fact, world economic growth is projected to be lower than in the current year. Thus, continued slow growth in oil demand is expected in 2011 at around 1 million barrels per day, in line with the growth level of the current year."

Moreover, he said much of the demand is coming from developing countries including China, India, and some in the Middle East and Latin America.

El-Badri, speaking at annual meetings of the International Monetary Fund and World Bank, said crude oil prices have been relatively stable in the past 12 months, holding in a range of $70 to $85 a barrel following extraordinary volatility in the prior period.

But he added that "downward pressure on oil prices has been noticeable in light of the uncertain pace of the economic recovery as well as persistently weak oil market fundamentals."

Meanwhile, Iran's OPEC governor said oil prices were "nominal" and the crude market was oversupplied, the Students News Agency ISNA reported on Saturday.

"The prices of oil in the market which stood between $70 to $80 ... are nominal and not real ... There is an oversupply in the oil market consequently some countries are stockpiling oil or its derivatives," Mohammad Ali Khatibi told ISNA.

"If we compare the current prices with the prices a few years ago, the real prices will stand at a maximum of $50 a barrel."

Oil prices have recovered from just above $30 a barrel in December 2008 and are trading above the $70-$80 range OPEC has said is acceptable for consumers and producers.

Khatibi also said some OPEC members believed prices were still "very low".

The OPEC meets to review oil output policy in Vienna on Oct. 14.

The 12-member producer group has held its supply target steady since announcing a record output cut in December 2008.

Though official policy is unchanged, members' compliance with output targets slid to as low as 50 percent this year from 80 percent in April 2009. In the last two months, compliance has risen slightly and reached 57 percent in September.