Overall conformity with the original decision was 103 per cent, reinforcing the trend of aggregate high conformity by participating countries.

Brent rose 83 cents, or 1.2%, to $67.57 a barrel. WTI were up 77 cents, or 1.2%, to $64.60 per barrel.

According to the agreement, the OPEC+ alliance, which controls about half of the world's production capacity, will mostly maintain its quotas, with Russia allowed a 130,000 b/d increase and Kazakhstan a 20,000 b/d rise, while Saudi Arabia said it would continue implementing its voluntary cut

Brent added 52 cents, or 0.8%, to $64.59 a barrel. WTI gained 43 cents, or 0.7% to $61.71 a barrel.

Brent rose 24 cents, or 0.38%, to $62.94 a barrel. WTI rose 15 cents, or 0.25%, to $59.90 a barrel.

“We must emphasize in strong terms: cautious optimism, cautious optimism, cautious optimism.”

Current oil demand of 94 million b/d, rising to 99 million b/d in 2022.

Brent dropped 70 cents, or 1.1%, to $62.99 a barrel. WTI fell 71 cents, or 1.2%, to $59.93 a barrel.

Prices have rallied to pre-virus levels, while U.S. production has taken a hit from freezing storms. Talk swirls of market supercycles, and even the return of $100 oil.

Oil demand may continue to climb over the next decade even as countries work to comply with the Paris climate agreement’s goals for cutting emissions,