Brent crude futures for April gained 19 cents, 0.3%, to $67.23 a barrel by 0400 GMT, while U.S. West Texas Intermediate crude for April was at $63.30 a barrel, up 8 cents, 0.1%.
Saudi Arabia is expected to announce its plans when a coalition of oil producers meets next month, according to the WSJ report, adding that the output rise won't kick in until April.
“Rising confidence in an upturn in economic and oil demand recovery around the corner is a major impetus for crude,” said Vandana Hari, energy analyst at Vanda Insights.