Oil prices rallied in Asia on Tuesday from a dramatic 8%-fall in their last session.
International Brent Oil Futures rose 2.43% to $34.11 by 9:52 PM ET (2:52 AM GMT) and U.S. Crude Oil WTI Futures jumped 4.1% to $27.15.
Russian Direct Investment Fund's chief executive told CNBC overnight that his country and Saudi Arabia are “very, very close” to an agreement to cut production.
But even as OPEC+ members are said to be preparing for a virtual meeting on Thursday, investors are focusing on whether the two producers can reach an agreement on production cuts amid plummeting demand.
Source : Investing.com