Other oil minister comments indicated a similar outlook to Naimi.
"The market will fix itself ultimately," United Arab Emirates Oil Minister Suhail bin Mohammed al-Mazroui told Reuters in an interview.
The OPEC meeting will be one of its most crucial in recent years, with oil having tumbled to below $78 a barrel due to the U.S. shale boom and slower economic growth in China and Europe.
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Cutting output unilaterally would effectively mean for OPEC, which accounts for a third of global oil output, a further loss of market share to North American shale oil producers.
If OPEC decided against cutting and rolled over existing output levels on Thursday, that would effectively mean a price war that the Saudis and other Gulf producers could withstand due to their large foreign-exchange reserves. Other members, such as Venezuela or Iran, would find it much more difficult.
Iranian Oil Minister Bijan Zangeneh, often among the first to call for cuts, added to expectations the group will not take any dramatic action in Vienna, saying he and Naimi were now "very close" in their positions and that there was "unity" in the group to monitor the market.
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Kuwait's oil minister said Wednesday the OPEC member will have to accept any market price of oil. "We have to live either with $80 or with $60 or with $100," Ali Saleh al-Omair told reporters.
Three OPEC delegates had previously told Reuters that OPEC is unlikely to cut its oil output ceiling at the meeting, citing high supplies from some members and non-OPEC producers.
Early rumblings had indicated that the Saudis would move to push for cuts of up to 1.5 million barrels a day to help re-balance the market and lift prices.
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"Only a 1.5 million barrel-a-day reduction would help stabilize the price at this stage," Ole Sloth Hansen, head of commodity strategy at Saxo Bank, said earlier to CNBC. "If no action is taken the market will see this as a renewed selling opportunity."
In a recent survey, only 11 out of 30 strategists polled by CNBC said they thought OPEC will decide not to take any action this Thursday.
In October, members of OPEC produced about 30.6 million barrels a day, despite an official quota of 30 million, according to the International Energy Agency.