Algeria sees no need for Opec to cut output

Algeria’s Energy and Mines Minister Chakib Khelil said overnight that he believed Opec would not cut output when it meets at the end of this month, because prices were stable and demand still strong.

Khelil also expected oil prices to remain above US$50 ($73.63) a barrel during the first half of 2006 but to drop a little in the third quarter.