OPEC Secretary General Abdalla Salem El-Badri said he doesn't expect the oil organization to cut production when the group meets next month, despite signs of even weaker crude demand and swelling oil inventory in big energy consuming nations. The Organization of Petroleum Exporting Countries needs to fully implement an agreement announced back in December to remove 4.2 million barrels a day from world markets before embarking on more reductions, El-Badri said. Speaking at his office, El-Badri said he had yet to speak to other ministers about the group's next meeting, scheduled for May 28, and emphasized that OPEC's 12 ministers could still decide to announce further output cuts next month. New York's light sweet crude for June, gained $1.93 to close at $51.55 per barrel. Brent North Sea crude for delivery in June advanced $1.56 to settle at $51.67 a barrel.
