Kuwait says no need for OPEC to cut production

Kuwait's oil minister said Monday that there is no need for OPEC to cut production, despite crude prices that have fallen nearly 30 percent since July.

Mohammed Abdullah Al-Aleem is part of an OPEC committee whose recommendations could play in OPEC's final decision on what to do about output.

He spoke on the eve of a meeting of oil ministers from the Organization of Oil Exporting Countries who will decide whether to reduce production or keep it at current levels.

"For the time being ... there is no need to cut production," Al-Aleem said, but he added that current supply had outpaced demand.

While officials from Iran and Libya …