Oil rose for a second day on optimism OPEC+ will agree on deeper cuts in response to virus-led demand destruction, countering a further increase in U.S. crude stockpiles.

While Saudi Arabia and Russia remain split over the threat the outbreak poses to global demand, talks between experts from OPEC and its allies have been extended into a third day as they seek to determine the impact on consumption. Speculation of a potential resolution helped to offset a larger-than-expected increase in American inventories.

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