Oil at $80 a barrel won’t stop BP Plc (BP/) or Total SA (FP) from exploring and developing crude deposits. Oil has dropped into a bear market this year, with prices falling as much as 26 percent since June amid a global glut. OPEC won’t cut its collective output when it meets this month and global oil prices will stabilize once the surplus is absorbed by the market, Kuwait Oil Minister Ali Al-Omair said at an oil conference in Abu Dhabi, the capital of United Arab Emirates , yesterday. All projects under way now will go ahead with oil at $80 a barrel, London-based BP Chief Executive Officer Robert Dudley said at the conference. Total, based in Paris, can proceeed with its projects at $80, Arnaud Breuillac, president of exploration and production, also said in Abu Dhabi . Brent crude , benchmark for more than half of the world’s […]