On Friday, Falih implicitly faulted the Trump administration for contributing to the price slump over the last two months.
He said customers loaded up on crude oil in the fall anticipating that the Trump administration would apply strict sanctions against Iran. However, Trump allowed some of Iran's biggest customers to keep importing its oil, so supplies didn't tighten as much as feared. Now, customers will likely work through inventories before buying more oil, according to Falih.
"Let's be frank, I think some of last three months' demand has been on the back of expectations of strict applications of sanctions on Iran, which have been relaxed," Falih said.
It is widely known that the Trump administration lobbied Saudi Arabia to raise production earlier this year as the Treasury Department prepared to restore sanctions on Iran, a policy that has boosted prices. However, Trump still took a confrontational tone on Twitter throughout 2018, blaming OPEC for rising oil prices and ordering the group to cut production.
"In the past you had U.S. presidents quietly asking Saudi Arabia to keep the market balanced. Now you have the U.S. president publicly tweeting against OPEC," Croft told CNBC's "Closing Bell." "I think everybody in OPEC is waiting to see what President Trump does next. Is he going to be quiet after this agreement, or is he going to take to social media and criticize OPEC?"
So far, Trump has held his fire, and the administration has continued to hold talks with the Saudis.
Prior to the OPEC meeting, State Department special envoy for Iran Brian Hook met with Falih in Vienna. On Monday, Falih's official Twitter account posted photos of the minister smiling next to U.S. Energy Secretary Rick Perry in Saudi Arabia and said the two had discussed oil market conditions.
It is possible Trump will remain silent until oil prices start to bubble higher.
Some analysts believe Trump's reason for lambasting OPEC on Twitter is not necessarily aimed at getting the group to change its policy. Instead, they say, it's part of a plan to deflect blame when oil prices rise and take credit when they fall.