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OPEC ministers gather for an eagerly awaited meeting which is widely expected to leave its output levels unchanged, despite the recent oil price collapse and global oversupply.
Latin American crude producer Venezuela, struggling to cope with sharply lower oil prices, is seeking support outside OPEC to stabilise the market.
OPEC's strategy of not cutting production in order to maintain market share is working, Saudi Arabia's oil minister said.
Venezuelan President Nicolas Maduro held talks in OPEC's leading oil producer Saudi Arabia.
Venezuelan President Nicolas Maduro arrived in Tehran for a 24-hour visit during which he will meet officials from fellow OPEC member Iran.
Venezuelan President Nicolas Maduro begins a trip to China and OPEC member countries late Sunday in search of financial support.
OPEC will not cut oil production even if the price drops to $20 a barrel and it is unfair to expect the cartel to reduce output if non-members do not.
OPEC has no plans to intervene in the oil market to shore up sagging crude prices, the Kuwaiti oil minister said, as Brent crude breached the $60 mark.
Venezuelan President ordered his government to slash the budget of his oil-dependent and economically-weak nation.
OPEC ministers met to try to work out a deal to tackle rising oil supplies that are weighing heavily on crude prices and the cartel's revenues.
Oil prices were mixed in Asia ahead of a crucial meeting of the OPEC cartel later in the week that will discuss whether to trim output, analysts said.
OPEC is not likely to cut crude output when it meets later this month amid hopes that the market will absorb surplus supplies, the Kuwaiti oil minister said.
Venezuela will ask for an emergency meeting of OPEC countries to try to halt sliding oil prices, Foreign Minister Rafael Ramirez said.
OPEC member Kuwait said there was no need to call an emergency meeting for the producers' cartel to discuss sliding oil prices after crude hit a 17-month low.
Kazakhstan, a Central Asian oil producer, will expand its cooperation with the Organization of Petroleum Exporting Countries (OPEC).
American Airlines, owed some $750 million by Venezuela, said Tuesday it was sharply reducing flights to the South American nation from July after the two sides failed to read a deal, a spokesman said.
El Salvador on Monday announced it has joined Petrocaribe, the Venezuelan energy subsidy program that gives access to cut-rate oil.
Venezuela announced Friday it would repay a small part its debt to local importers, after currency controls have sparked mass shortages of basic goods in the oil-rich country.
King Abdullah meets President Barack Obama Friday as mistrust fuelled by differences over Iran and Syria overshadows a decades-long Saudi-US alliance.
Students and opponents of the Venezuelan government have called a new rally for Wednesday to mark a month of protests in Caracas, as the death toll from demo-related violence reached 21.
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