The oil ministers of Venezuela, Iraq and Iran will meet in Tehran on Wednesday to discuss an agreement to freeze producers' output at January levels, Venezuela's oil minister said on Tuesday.

Eulogio Del Pino was speaking at a news conference in Doha after he and the ministers of Qatar, Russia and Saudi Arabia agreed to freeze output providing other major producers followed suit.

"Tomorrow we are going to have a meeting with ministers of Iran and Iraq in Iran, and I hope the minister of Qatar will be going with me to discuss with them the basis of this agreement, which is very important for the stabilisation of the market." – Reuters