UPDATE 1-Algeria sees oil price at $70-75 next year

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ALGIERS, May 31 (Reuters) - Algerian Energy and Mines Minister Chakib Khelil said on Sunday he expected oil prices to reach $70-$75 a barrel in 2010 thanks to an improving global economy.

"We expect the oil price to strengthen to $70-$75 a barrel next year," he said on state radio.

The Organisation of the Petroleum Exporting Countries left output targets unchanged at a meeting in Vienna on Thursday, as higher oil prices and optimism over the global economy would soon start to outweigh concern over high crude stocks.

The oil price CLc1, which has more than doubled from a December low of $32.40 a barrel, hit a six-month high over $66 a barrel on Friday.

OPEC has agreed to reduce production since September by about 4.2 million barrels per day, or about 5 percent of world supply. It is estimated to have delivered around 80 percent of those cuts so far. (Reporting by Hamid Ould Ahmed; Editing by Jon Hemming)