However, Bjarne Schieldrop, chief commodities analyst at SEB research group, said: "There is within the alliance a major difference of opinion on the capacity of the oil market to absorb new volumes."
"The mega-cap sectors and stocks that benefitted from the Covid-19 pandemic stay-at-home (SAH) environment, weak economic activity, and new lows in fixed income yields have been giving way" to the recovery theme, said Canaccord Genuity equity strategist Tony Dwyer, adding the selling could worsen.
South Korea stocks slid 1.2% to a one-week low as daily coronavirus cases rose by another 621, unchanged from a day earlier when it marked the highest level in 39 days.