ABU DHABI (Bloomberg) -- OPEC won’t cut its collective crude output when it meets later this month and global oil prices will stabilize once the surplus is absorbed by the market, Kuwait Oil Minister Ali Al-Omair said. OPEC, which supplies about 40% of the world’s oil, meets Nov. 27 to debate supply. The 12-member Organization of Petroleum Exporting Countries, which has a production target of 30 MMbopd, pumped 30.974 MMbopd in October, according to data compiled by Bloomberg.
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Kuwait oil minister sees no OPEC output cut at next meeting
![Kuwait oil minister sees no OPEC output cut at next meeting]()
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