ABU DHABI--OPEC Secretary-General Abdalla Salem el-Badri on
Monday called for calm in global oil markets following the
commodity's recent slump and ahead of a much-anticipated meeting of
the key oil-producing group on Nov. 27.
"It is two weeks before the OPEC meeting so I'm telling media to
relax and not to panic.. I'm telling the market please don't panic.
Things will fix [themselves]," Mr. el-Badri said at an oil
conference in Abu Dhabi.
Earlier, Kuwait's oil minister Ali al-Omair said he didn't
expect the Organization of the Petroleum Exporting Countries to
call for a cut to its production output ceiling when it meets later
this month.
"It's too early to decide, but I don't think so," he said,
speaking to reporters on the conference sidelines. "It will be a
hard decision but I don't think there will be any cut."
Mr. Omair said it was unclear how big the surplus of global oil
supply currently is.
Write to Summer Said at Summer.Said@wsj.com
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