D Dominion Energy Inc

Saudi oil minister Ali al-Naimi said Thursday there was no need for an emergency OPEC meeting despite oil prices falling below $100 a barrel.

The Organization of the Petroleum Exporting Countries is set to meet in November.

Oil prices have fallen in recent days to levels not seen in 16 months amid returning Libyan supplies and weakening demand in Western Europe.

But speaking on the side of a regional gathering in Kuwait, Mr Naimi said he was not worried as oil prices "always fluctuate and this is normal."

Write to Summer Said at summer.said@wsj.com and Benoit Faucon at benoit.faucon@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires