OPEC Sec-Gen Badri says oil price comfortable

VIENNA (Reuters) - OPEC Secretary-General Abdullah al-Badri said on Wednesday oil prices -- now trading just above $60 per barrel -- were "comfortable," but were still below the level the producer group wanted.

"Prices at this time are comfortable," Badri told a news conference. "But they are not at the level we are shooting for."

The Organization of the Petroleum Exporting Countries has repeatedly said prices of around $75-$80 per barrel are needed to secure investment in new oil supplies for the long term.

Earlier this year, the group said it was willing to live with lower prices than that to help the economy recover, but at its May meeting OPEC said oil at around $75 a barrel could be achieved this year and the world was ready to cope.

The oil market reached its highest level this year, at above $70 a barrel, in June, buoyed by investor optimism that the economy was strengthening. But this month the mood has changed.

Badri would not be drawn on what action OPEC would take when it next meets in September, but said "the most important thing is the financial market."

"We are really still not seeing an improvement in the banking system," he said.

Badri was speaking after the release of OPEC's annual World Oil Outlook, which predicted global demand for oil could take years to recover from the impact of financial crisis.

(Reporting by Sylvia Westall; writing by Barbara Lewis; editing by Christopher Johnson)