Saudi Arabia’s Naimi Says OPEC Meeting Can Wait as Oil Slumps

Saudi Arabia, the world’s biggest crude exporter, said OPEC doesn’t need to meet on possible measures to check falling oil prices, according to the kingdom’s oil minister Ali Al-Naimi.

Prices “always fluctuate and this is normal,” Naimi told reporters in Kuwait where he’s meeting counterparts from the Gulf Cooperation Council comprising six Arab oil-producing monarchies. Four of them -- Saudi Arabia, Kuwait, the United Arab Emirates and Qatar -- are members of the Organization of Petroleum Exporting Countries.