Saudi oil minister says OPEC will shore up prices

CAIRO, NOV 29 (AP): Saudi Arabia's oil ministers says OPEC will "do what needs to be done" in terms of shoring up falling oil prices when the cartel meets next month in Algeria. Ali al-Naimi did not entirely rule out the chance that the Organisation of Petroleum Exporting Countries would slash output at the hastily convened meeting Saturday.
But he did say the bloc needs to assess the impact of two previous rounds of cuts, and the impact of those would not be clear until OPEC meets again in Oran, Algeria on Dec. 17.