Sept. 5 (Bloomberg) -- OPEC is unlikely to cut supply at next week's meeting in Vienna because of the hurricane season, Goldman Sachs Group Inc. Chief Economist Jim O'Neill said.

``It's quite interesting how quickly people are focusing on the idea of them cutting supply,'' O'Neill said today in an interview with Bloomberg from a conference in Cernobbio, Italy.

He expects ``some volatility'' with regard to oil prices before the Sept. 9 meeting in Vienna, possibly boosting prices in the short-term.

``Given demand destruction, we are going to come down further'' once the meeting is over, he said.

To contact the reporter on this story: Stephen Cunningham in London at scunningha10@bloomberg.com

Last Updated: September 5, 2008 02:19 EDT