He spoke to reporters on arrival in South Africa where he is due to attend a conference of major oil producers and consumers this week.

He suggested that a decision on further Opec output cuts could not be expected to be made during the conference.

"This is not a (Opec) conference. This is not our conference," he said.Referring to the pledge by the Organisation of Petroleum Exporting Countries to cut 2.6 million barrels per day (bpd) of crude production, he said, "there is more than 90 per cent compliance, almost 100 per cent compliance."Asked about a further round of cuts, he said "this is something that has to be discussed here. We will talk about everything."

When pressed, he said "come to Vienna." OPEC is due to hold its next ministerial meeting in Vienna on November 25. The Cape Town conference, which opened formally on Thursday, will bringtogether around 50 ministers from major oil producing and consuming nations.

Non-Opec producers have also pledged to cut a combined 500,000 bpd in production in support of Opec efforts to bolster oil prices.