The 30-stock index vaulted 327 points, or 1%, to 33,601.15.
The S&P 500 gained 15.2 points to 4,124.51.
The tech-heavy NASDAQ lost 32.45 points, off its lows of the morning, to 12,189.45.
Markets spent much of the trading session digesting the news from OPEC+ which is slashing 1.16 million barrels per day. WTI and Brent futures were higher.
Marathon Oil jumped $2.38, or 9.9%, to $26.34, while Halliburton took on $2.46, or 7.8%, to $34.09.
All three major averages were positive in the first quarter, despite turmoil in the banking sector highlighted by the collapse of Silicon Valley Bank in March. The NASDAQ Composite led the way in the quarter with a gain of 16.8% while the S&P 500 rose 7% in the first three months of the year for its second-straight positive quarter. The Dow industrials lagged but still managed to grind out an advance of 0.4%.
The first week of the new quarter is a shortened one for Wall Street, as trading will be closed for Good Friday. However, there will be several key pieces of economic data for investors, including job openings data on Tuesday, ADP private payrolls report on Wednesday and the closely watched monthly jobs report on Friday.
Prices for the 10-year Treasury gained sharply, lowering yields to 3.41% from Friday 3.48%. Treasury prices and yields move in opposite directions.
Oil prices ballooned $4.79 to $80.46 U.S. a barrel.
Gold prices gained $15.70 to $2,001.90 U.S. an ounce.