OPEC members tentatively agreed on Thursday to deliver a larger output cut than they initially proposed last month in the face of the coronavirus outbreak. But it is now up to Russia to approve it when it joins the meeting on Friday. While it is almost certain that Moscow will cave in, there is little optimism that the announcement will trigger the much-needed sustainable rally in oil markets even though a short-lived upside correction cannot be ruled out in the near-term. Russial may not be happy, but [..]
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