Suhail bin Mohammed Faraj Faris Al Mazrouei the UAE Minister of Energy on Tuesday urged Opec members and non-Opec producers to hold their production at January levels to stabilise global oil markets.

"All producers must willy-nilly freeze their production" he said stressing that the current talk about a significant short-term increase in production is neither realistic nor economically feasible.

The UAE will not act alone but will work with others and support the majority in any decision aimed to stabilise the oil market Al Mazrouei stressed in statements at a ceremony to launch smart self-refuelling service at oil stations in the emirate of Abu Dhabi.

"I believe that current prices will force all to stabilise production. Holding production is no longer an option but a necessity that everyone should consider" Al Mazrouei told Wam.

Current oil demand is not weak but there is oversupply and all producers should work in a serious manner to stabilise the oil market he added.

"Oil prices are determined by market fundamentals. We do not interfere in the process. But if there was commitment to stabilsing production then we will see the results in the market" the minister said.

The Organisation of Petroleum Exporting Countries has not officially called for an emergency meeting the minister said noting that there is talk about cooperation between Opec members and non-Opec countries.

"We have not received any invitation to such a conference" Al Mazrouei added

What Opec should do to address the situation in global markets is "cut production" but if this is difficult to agree on at present then it would be necessary to agree to hold their production levels Al Mazrouei said.

Saudi Arabia - the world's largest crude exporter - Russia Venezuela and Qatar have proposed that producers cap production at January levels to bolster prices that have tumbled almost 70 per cent in two years. Opec member Iran which is ramping up output following the removal of sanctions in January has said the plan is "ridiculous" and saddles it with "unrealistic demands".

"The idea of bringing a lot of production in a short period is not practical" Al Mazrouei said.

Opec is very unlikely to cut output at its next meeting in June even if prices remain extremely low according to Opec sources and delegates as it will be too early to say how fast Iranian output is rising.

The sources which include officials from the Middle East say Opec countries such as Saudi Arabia also want to test Russia's commitment to freezing output before taking any further steps to stablise prices.

More than 18 months after oil prices began a steep slide due to excess supply Saudi Arabia Qatar Venezuela and non-Opec Russia agreed last month to freeze output at January levels in the first global oil pact in 15 years.

Saudi Arabian Oil Minister Ali Al Naimi said last week a supply cut was not on the cards although adding that the production freeze was only the first step to balance the market after prices fell to their lowest since 2003.

"Maybe by the end of the year (a cut could be possible) when it is really clear that Iran is actually producing the volumes they are talking about. But not in June" a source from one of Opec's Middle Eastern producers said.

January was peak or near-peak production for Russia and Saudi Arabia the world's two top oil exporters but Iran - Opec's No.3 producer - is the key supply uncertainty as it is raising output after the lifting of Western sanctions in January adding barrels to the already saturated market.

Over the past month Iran has issued conflicting statements saying it could add up to 1.5 million barrels per day over the next year which would confound market scepticism that its fields were damaged by years of sanctions.

Meanwhile its February exports have disappointed as European buyers were cautious to immediately boost trade amid remaining dollar clearance and ship insurance problems.