OPEC+ is 24 nations, including Russia. They have agreed to increase production slightly and slowly as they watch the recovery. They are well under the level at which they could produce. They want that happy marriage of production that just meets demand and a price that keeps slowly increasing.
This is still good news for current American operators who are in production. Almost all are profitable above $55 a barrel and it looks like $75 could be support and $80 might not be far off if the recovery doesn’t get stalled by virus restrictions. If the recovery stalls, everyone will get the lower prices they’d like.
It’s a rule of thumb that a rise of $10 a barrel for oil equates to about a 25 cent rise in gasoline per gallon. That’s a loose predictor but usually in the ballpark at this price level.
OPEC is like the NFL. They hate their customers.