Brent crude futures and West Texas Intermediate crude futures (WTI) in the United States rose as much as 8% after OPEC+ members agreed to cut more than 1 million barrels per day until the end of 2023.

The S&P/ASX 200 in Australia rose 0.76%, while the Nikkei 225 and Topix in Japan rose 0.40% and 0.51%, respectively. South Korea's Kospi fell 0.16%, while the Kosdaq rose 0.37%.

Mainland Chinese markets were also higher, with the Shenzhen Component up 0.57% and the Shanghai Composite up 0.22%.

The Hang Seng index, on the other hand, fell by 0.15%, while the Hang Seng Tech index fell by 0.68%.

Japan's factory activity slowed for the first time in five months. According to a private survey, the manufacturing purchasing managers index increased to 49.2% in March, up from 47.7% in February.

U.S. stocks on Friday rose Friday after the Federal Reserve’s preferred inflation gauge showed a cooler-than-expected increase in prices.

The core personal consumption expenditures index, which excludes energy and food costs, rose 0.3% in February, less than the 0.4% expected. All three major US indexes closed higher, with the Nasdaq Composite leading gains at 1.74% up.