Iran has nearly halved the amount of oil it has been forced to hold in tankers at sea, thanks to the end of nuclear sanctions. Now it's capitalizing on the November OPEC deal to cut oil production by 1.2 million barrels a day.

Why this matters: Iran is OPEC's third biggest oil producer, and it got off easy during the OPEC deal so it can rebuild its economy. But if it floods the market with stored oil, it will dampen OPEC's aim to boost prices.

And they're already doing it: Industry sources said Iran had already been offering discounts to buyers, and convincing them to stock up for winter in anticipation of the OPEC cut.

Why Americans should care: U.S. shale gas producers will also benefit from OPEC cuts, as rising oil prices resulting from the cut will make more of their operations profitable.

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Trump: "We are going a different way" on coronavirus aid

President Trump. Photo: Jim Watsonn/AFP via Getty Images

President Trump tweeted on Friday that his administration is "going a different way" with coronavirus aid after negotiations with congressional Democrats stalled again, suggesting he will use an executive order to address stimulus spending.

What he's saying: "Pelosi and Schumer only interested in Bailout Money for poorly run Democrat cities and states. Nothing to do with China Virus! Want one trillion dollars. No interest. We are going a different way!" Trump tweeted.

Trump's swift, sweeping China offensive

Illustration: Aïda Amer/Axios

President Trump's rhetoric on China has tended to run hotter than his actions — until now.

Why it matters: Even at the height of Trump's trade war, his administration never hit China as hard, as fast, and on as many fronts as it is right now.

Liberty University's Jerry Falwell Jr. agrees to “indefinite leave of absence”

Liberty University President Jerry Falwell Jr. in 2019. Photo: Ethan Miller/Getty Images

Jerry Falwell Jr. will take an “indefinite leave of absence” from his roles as president and chancellor of Liberty University after posting a photo of himself with unzipped pants and an arm around a woman on social media, according to the school.

The state of play: The picture, which has since been deleted, drew backlash and charges of hypocrisy from conservative political figures because the university's honor code strictly prohibits students from having "sexual relations outside of a biblically-ordained marriage," and recommends they dress with“appropriateness” and “modesty."