Venezuela, Qatar, Saudi Arabia, Russia to meet on oil price-Reuters

"We have reached an agreement...to meet in a yet to be determined city, to decide on the proposals," Del Pino said in an interview with local television network Telesur.

He also called for the participation of all OPEC members and allies in the meeting, so that far-reaching actions could be taken to address the troubled market.

"We need to submit this agreement to the world's main oil producers ... and take a decision on how to stabilize the market," he was quoted as saying by Xinhua.

On Feb. 16, oil ministers from Venezuela, Saudi Arabia, Russia and Qatar signed an agreement in Doha on coordinating actions to freeze oil output in an effort to stabilize global oil prices and ensure the sustainability of the industry.

Venezuela's state oil firm PDVSA also said that the ministers agreed to establish a monitoring committee "to follow up on the results of these actions."

The Venezuelan government has been actively pushing for a production freeze since mid-2015 because oil prices have plunged by nearly 70 percent since mid-2014 to below 33 U.S. dollars a barrel on Wednesday. (Uu.A026)