Al-Sada said the majority of the surplus has been taken away by the market but he still sees excellent opportunities for OPEC and non-OPEC members to continue cooperation beyond 2018.
He said that oil producers could also target the flow of investments into the sector.
Supply shock is a possibility if the flow of investment remains restrained, as it has done over the past several years, he said.
(Reporting by Dmitry Zhdannikov; Editing by David Goodman)
