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Despite oil trading low at US$60, OPEC+ this week is expected to continue to further open the taps.

Brent crude futures settled up 81 cents, or 1.26%, to US$64.90 a barrel. US West Texas Intermediate crude gained 95 cents, or 1.56%, to stand at US$61.84 a barrel.

The Dow rose 740.58 points, or 1.78%, to 42,343.65, the S&P 500 gained 118.72 points, or 2.05%, to 5,921.54 and the Nasdaq gained 461.96 points, or 2.47%, to 19,199.16.

Oil prices ticked up in early trading on Wednesday as the US barred Chevron from exporting crude from Venezuela.

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