OPEC Probably Won’t Cut Output at Next Meeting, Barkindo Says

The Organization of Petroleum Exporting Countries probably won’t cut oil production when the group meets this month because demand is strong, Mohammed Barkindo, OPEC’s new acting secretary-general, said.

“It is not likely,” Barkindo said in an interview today in Lagos, Nigeria. “You can see what prices are doing now. What would be the need to cut production?”