Jakarta - Crude oil prices above 120 dollars a barrel are "abnormal" but they could fall to around 78 dollars under the right circumstances, the president of OPEC said Tuesday.

"If the dollar continues to strengthen and the political situation improves, then the long-term prices will be about 78 dollars," Chakib Khelil said while on a visit to Indonesia.

He added that the market was well-supplied with oil, refuting arguments that there is a world shortage of the commodity and members of the Organization of the Petroleum Exporting Countries (OPEC) should increase production.

Jakarta - The Organization of the Petroleum Exporting Countries (OPEC) would like Indonesia to remain a member, the president of the oil cartel said Tuesday on a visit to the country that has become an oil importer.

Indonesian President Susilo Bambang Yudhoyono announced in May that his country was considering quitting OPEC because its interests have come into conflict with the cartel's policies since it began importing oil in 2003.

Vienna - The price for crude

London - Oil giant British Petrole