Top oil officials from Saudi Arabia, Russia and several key OPEC members will meet on Tuesday for their highest-level discussion in months, a potentially pivotal sign that producers are at last preparing to tackle a devastating supply glut.

The talks in the Qatari capital Doha, which had been kept under wraps until recent days, involve powerful Saudi Oil Minister Ali al-Naimi and his Russian counterpart Alexander Novak, sources said, two figures who must reach an accord for any coordinated global action to hold any hope of success.

Traders said the attendance of powerful Saudi Arabian Oil Minister Ali al-Naimi was significant. Credit:AP

They will be joined by Venezuela's Oil Minister Eulogio Del Pino, who has in recent weeks been visiting major oil producers to rally support for the idea of "freezing" production at current levels in an effort to halt a downward spiral in prices, sources have said.

Also expected to attend is the oil minister of Qatar, which holds the rotating presidency of OPEC (Organisation of the Petroleum Exporting Countries) this year, an important role in coordinating consultations among members and suggestions for extraordinary meetings of the group.