Oil rallies ahead of OPEC meeting

ronniechua iStock

UAE Energy Minister Suhail Al Mazrouei is expected to play a key role at the summit.

The oil group OPEC is hosting a hotly-anticipated video meeting.

 Oil prices jumped 5% overnight as traders expect Saudi Arabia, the UAE and Russia to extend oil production cuts.

The coronavirus pandemic has battered demand for crude as countries remained under lockdown. 

Air transportation was grounded as people were urged to work from home to limit the spread of the coronavirus outbreak.

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