Brent rose 2.5%, or 97 cents, to $39.29 a barrel, WTI climbed 2.5%, or 88 cents, to $36.32 a barrel.

"The presidents addressed world oil market developments in the context of implementing the OPEC+ agreement," the Kremlin said. "It was stated that this multilateral agreement, reached with the active support of the presidents of Russia and the United States, would lead to a gradual restoration of oil demand and price stabilisation."

Russian oil and gas condensate production fell to 39.7 million tonnes (9.39 million barrels per day) in May

The recent rebound in domestic oil and gas consumption may be difficult to sustain over the rest of the year, as recent data for the China's economy suggests an uneven and difficult road to recovery that could weigh on energy demand.

Brent was unchanged at $37.84 per barrel, WTI for July delivery were at $35.53 a barrel

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 7.9 million barrels from the previous week. At 534.4 million barrels, U.S. crude oil inventories are about 13% above the five year average for this time of year.

The UAE, which pumped a record 4.1 million b/d in April, has also pledged to trim an extra 100,000 b/d in June, on top of its OPEC+ commitments,

U.S. Rig Count is down 17 rigs from last week to 301, Canada Rig Count is down 1 rig from last week to 20

Brent were down 2%, or 71 cents at $34.03 per barrel, WTI were down 3%, or 98 cents, at $31.83 a barrel

Brent fell 53 cents, or 1.5%, to $35.64, WTI was down 50 cents, or 1.5%, at $33.85.