Energy giants Saudi Arabia and Russia agreed Tuesday to freeze oil output at January levels during a meeting in Doha, the Qatari oil minister said.

The Saudi and Russian oil ministers, along with their Venezuelan and Qatari counterparts, "agreed to freeze the production at (the) January level provided that other major producers follow suit," said Qatar's Energy Minister Mohammed bin Saleh al-Sada, who is acting president of the OPEC oil cartel.