Both the Brent crude and US WTI benchmarks were trading slightly higher following the agreement.
The United States has repeatedly pushed OPEC+ to accelerate output increases as US gasoline prices have been soaring.
President Joe Biden announced last week the coordinated release of oil from strategic reserves between the US, China, India, Japan, South Korea, and the UK to help cool the market.
OPEC+ said it remains concerned that the Covid-19 pandemic could once again drive down demand.
Current oil prices remain well above levels included in Russia's state budget.
The Kremlin recently approved a budget including price forecasts of $44.20/b in 2022, $45/b In 2023 and $45.90/b in 2024.
