Algeria urges OPEC to cut oil output

ALGIERS, Dec. 29 (Xinhua): The Organization of Petroleum Exporting Countries (OPEC) should cut oil output to push prices up, the official APS news agency quoted Algerian Energy Minister Youcef Yousfi as saying yesterday.

"OPEC should intervene to correct the imbalances by cutting oil output to push prices up and defend incomes of the member countries," Yousfi said at a press conference in the southern Tamanrasset Province.

Algeria, a OPEC member, does not agree with big oil producers inside the OPEC who suggested the oil organization should not intervene to regulate the market but let it stabilizes alone, according to Yousfi.