Vzla: Squeeze not cut

The Organization of Petroleum Exporting Countries will consider cutting its production by another 1 million barrels per day, Venezuela's oil minister said Tuesday.

A production cut, coming after one announced last month, could push U.S. gas prices higher. The national average is now about $1.73 a gallon.

Separately, Venezuelan President Hugo Chavez assured oil company executives on Tuesday that economic ties with the United States would remain strong despite political differences between his government and the Bush administration.