OPEC: Oil prices won't come down

Oil prices "will not come down," OPEC president Chakib Khelil said Tuesday, assuring that the oil cartel has already done what it can on the matter.

"OPEC has already done what OPEC can do and prices will not come down," Khelil told journalists as he arrived for a meeting with EU energy officials in Brussels.

EU Energy Commissioner Andris Piebalgs urged OPEC to do away with the grouping's production ceiling in order to provide relief to the market.

"In my opinion, there is no reason to keep ceilings on production," he told journalists.

"If there are no ceilings, markets will adapt much faster," he added. "In this respect we could expect prices to go down, not going up as the tendency has been till now."

Read more: France24