The Organisation of the Petroleum Exporting Countries has brought forward an emergency meeting to discuss the impact of global recession on oil markets.
It will now be held on 24 October.
Pressure has been mounting within the cartel to reduce supplies. Oil prices have fallen by around 50% since an all-time high of $147.27 on 11 July as the global economic slowdown reduces demand.
US crude settled at $US69.85 on Thursday, down $US4.69, after sliding as low as $US68.57 - the lowest level since 27 June, 2007.
In London, November Brent crude, which expires on Thursday, settled at $US66.32, down $US4.48.
OPEC last met in September.