China, the second largest crude oil consumer, is trying to contain the spread of the coronavirus by halting public transportation in at least 10 major cities during the Lunar New Year, meanwhile benchmark crude oil prices fell below $62 per barrel in Friday's trade. The market has shrugged off news OPEC is discussing extending their production cuts until the end of 2020, according to Russia media report.

China, the second largest crude oil consumer, is trying to contain the spread of the coronavirus by halting public transportation in at least 10 major cities during the Lunar New Year, meanwhile benchmark crude oil prices fell below $62 per barrel in Friday's trade.  The market has shrugged off news OPEC is discussing extending their production cuts until the end of 2020, according to Russia media report.