Oil ministers from three Opec countries, Saudi Arabia, Qatar and Venezuela, as well as Russia, have agreed to freeze oil output at January levels, as long as others follow suit.
The announcement came after the four ministers met in Doha on Tuesday.
The move is designed to support the oil price, which has dropped sharply in recent months.
Oil prices have fallen about 70% from their recent peak of around $116 a barrel in June 2014.
The steep decline is due to oversupply, sluggish demand and worries about the global economic outlook.
