"Following the welcome step announced overnight by some producer countries, I am looking forward to today's extraordinary meeting of G20 energy ministers.
I hope that it will help restore some much-needed stability to oil markets," Birol said in a statement on Friday.
Oil prices had tumbled on Thursday on doubts that a deal between OPEC and allies to make a record oil supply cut would be enough to offset the collapse in global fuel demand caused by the coronavirus pandemic.