Oil could be headed back to "normal" prices per barrel according to Secretary-General of Organization of the Petroleum Exporting Countries (OPEC) Abdullah al-Badri said Wednesday.

CNBC reports that on Wednesday, Badri said prices will rebound despite being near their lowest prices since 2009. Since June, oil prices have fallen almost 60 percent to a level near $45 per barrel.

One reason why prices have fallen has been due to OPEC's decision not to cut output of oil.

Badri said OPEC was in the right to keep producing oil so that non-OPEC countries would not steal market share by increasing their output.

"Everyone tells us to cut, but I want to ask you, do we produce at higher cost or lower costs? Let's produce the lower cost oil first and then produce the higher cost," Badri said at the World Economic Forum in Davos, Switzerland. "Prices will rebound. I saw this 3-4 times in my life. We will go back to normal very soon."

OPEC's decision to keep producing oil was not meant to be an attack on Russia or the United States, according to Badri.

Wednesday's remarks could have sparked the 2.5 percent gain in Brent crude oil to $49.50 in Wednesday morning trading.

Even with Wednesday's rise in price, however, one analyst thinks oil will not hit $80 for decades.

"It's more likely that we see $20 [per barrel] than we do $80," Brian Reynolds, chief market strategist at Rosenblatt Securities told CNBC.

Cheap oil has been translating into cheap gas prices, but that could change come February.

Watch Badri's interview below.

What do you think about cheap oil? Is it here to stay or is Badri right about the price "going back to normal?" Leave us a comment below and let us know.

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