U.S. stock index futures pointed to a higher open on Thursday as oil-producing nations agree to extend production cuts for nine months.
This comes as the group seeks to curb a global supply overhang which has depressed prices and revenues over the past three years.
The proposed cuts are expected to be shared again by non-OPEC producers later on Thursday. Led by Russia, non-OPEC producers had initially curbed output in conjunction with OPEC in a landmark deal for the first half of the year from January.
Nevertheless, U.S. crude prices fell more than 1.3 percent to $50.68 a barrel.
Dow futures rose 70 points, while S&P and Nasdaq futures advanced 6.25 points and 23.25 points.