(Ecofin Agency) - In Tehran, the Prime Minister of Algeria, Abdelmalek Sellal, has advised oil super majors in the oil market to come together and agree on production levels, which he believes can recover crude oil prices.

The prime minister declared this in his speech at the 3rd summit of the Gas Exporting Countries Forum (GECF), held in Iran today.

Representing President Abdelaziz Bouteflika at the summit, the Prime Minister noted that an unfettered oil market can be faced with acute and damaging unstable prices.

“Such fluctuations create an instability that doesn’t serve the interests of producers, the consumers or those of the oil industry as a whole”, he said.

Sellal blames the decline in the oil prices globally, for the negative effect it has on the low level of gas prices today. 

He, however, reiterated Algeria’s commitment in achieving the Forum’s charitable ambitions in preserving the interest of the producers and consumers of natural gas, Algeria Press Service reports.