Without mentioning who the new deal’s members should or could be, Russia called for a new OPEC+ deal to balance oil markets to cushion the economic fallout from coronavirus

The quick slide in oil prices over the past few days has alarmed OPEC officials as the new virus found in China and several other countries raised concerns about a hit to economic growth and oil demand

Surging oil production from non-OPEC countries led by the US along with abundant global stocks will help the market weather political shocks such as the US-Iran stand-off, IEA said