OPEC Calls for Calm in Global Oil Markets

Dow Jones Newswires

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.

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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