OPEC+ may agree on need to deepen oil output cuts -sources

(Reuters) – An OPEC+ technical committee may reach consensus on Thursday on the need to further cut oil output by at least 500,000 barrels per day in response to the coronavirus’ impact on energy demand and global economic growth, two sources told Reuters.

The so-called JTC panel has extended its meeting for a third day into Thursday after Russia voiced its opposition to a deeper supply cut and was instead suggesting an extension of current cuts.