OPEC+ agreed to increase production by 100,000 barrels per day for the month of September, giving the tight market additional supplies at a much slower pace than in recent months.
Sources told Bloomberg that ministers backed the proposal in an online meeting on Wednesday.
It is reported that in July and August, the group pledged to add more than 600,000 bpd to the market.
The sources indicated that the coalition, which includes 23 countries, will divide the increase in supply proportionally among the members.
In recent months, with only the Saudis and Emiratis able to boost production, only a small part of the group’s deal reached global markets.
The agreement is a modest indication that Riyadh and Washington are on the path to reconciliation, after a visit to the kingdom last month that saw Crown Prince Mohammed bin Salman receive US President Joe Biden.
Late Tuesday, the United States approved a $3.05 billion arms sale, including Patriot missiles, to the Middle East.