Qatar confirmed Sunday that it will host a meeting of the Organization of Petroleum Exporting Countries on Thursday.
Qatar's Energy Minister Abdullah bin Hamad al-Attiyah told reporters that ministers at the OPEC meeting would review the market situation and discuss production quotas.
Al-Attiyah told the Qatar News Agency that OPEC members also will talk about "the possibility of reducing total oil output by 1 million barrels a day to stop any further decline in prices."
Last week, OPEC President and Nigeria Oil Minister Edmund Daukoru said members had agreed to trim global production by 1 million barrels a day to boost prices. At the time, Daukoru also said the group was considering holding an emergency meeting to discuss how to share the cuts.