Russia's energy minister said on Tuesday that his country has agreed with OPEC members Saudi Arabia, Qatar and Venezuela to freeze oil production levels if other producers do the same.
The ministry quoted Energy Minister Alexander Novak announcing the decision following an unexpected, closed-door meeting involving the four countries in the Qatari capital, Doha.
The meeting reflects growing concern among major oil producers about the effects a prolonged slump in crude prices will have on their domestic economies.