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Russia's Lukoil VP expects OPEC+ to cut oil output by more than 1 million bpd

OPEC+ is expected to cut the oil output cut by more than one million barrels per day (bpd), Vice President of Russian oil producer Lukoil, Leonid Fedun, said on Monday.

"Coronavirus outbreak hit the oil demand, but it is short term," Fedun argued, per Reuters, and added that he expects Russia to cut its oil output by around 200,000-300,000 bpd.

Crude oil rebound

The barrel of West Texas Intermediate (WTI) is holding on to decisive daily gains. As of writing, the WTI was up 3.8% on the day at $47.05.

Coronavirus update: Death toll in Italy jumps to 52, 2,036 confirmed cases

The death toll of patients who tested positive for the coronavirus in Italy rose to 52 from 34 a day ago, an official for the Civil Protection Agency
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EUR/USD defies gravity on relentless unwind of the carry trade

EUR/USD has extended its upside to a high of 1.1165 as the carry trade continues to unwind despite a bid in risk appetite elsewhere. At the time of w
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