OPEC is unlikely to change its oil output at a meeting next month and a decline in oil prices will probably be temporary, the top oil official for OPEC member Libya said on Tuesday. Oil has slid to about $112 a barrel from a record high of $147.27 last month, weighed in part by slowing demand. The drop has prompted some OPEC members, such as Iran, to say the group is pumping too much. 'We are not thinking of doing anything, but we are watching the market carefully,' Shokri Ghanem, chairman of Libya's National Oil Corporation, told Reuters by telephone.

 [Reuters]