An oil pump in the desert oil fields of Sakhir, Bahrain. Photo: Hasan Jamali / AP

The Organization of the Petroleum Exporting Countries (OPEC), along with 10 other countries including Russia, are leaning towards extending an oil supply cut for another nine months, according to a Reuters report.

Why it matters: The deal, which was extended previously in May, planned to cut oil supply by around 1.8 million barrels daily until early 2018 in order to return oil stock levels to the five year average, which has not yet been accomplished. The purpose is to raise global prices, which have taken a hit due to excess supply.

What to watch for next: OPEC and allies could meet in early 2018 if a decision isn't reached this November, Reuters reports.

Go deeper

Voters visit polls in Arizona, Kansas, Michigan, Missouri, Washington

Photo: Michael B. Thomas/Getty Images

Primary elections on Tuesday in fives states see crowded fields of both Republicans and Democrats hoping to make the ballot in 2020.

What to watch: Rep. Rashida Tlaib (D-Mich.) is "fighting for her political life" in a tight primary race against Detroit City Council President Brenda Jones, who Tlaib beat by 900 votes in 2018, The New York Times writes. Senate Republicans are also watching the primary race in Kansas to see who could replace retiring Republican Sen. Pat Roberts.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 6:30 p.m. ET: 18,387,725 — Total deaths: 696,586 — Total recoveries — 10,976,180Map.
  2. U.S.: Total confirmed cases as of 6:30 p.m. ET: 4,758,028 — Total deaths: 156,426 — Total recoveries: 1,513,446 — Total tests: 57,543,852Map.
  3. States: New York City health commissioner resigns in protest of De Blasio's coronavirus response — Local governments go to war over schools.
  4. Public health: 59% of Americans support nationwide 2-week stay-at-home order in NPR poll.
  5. Politics: Trump's national security adviser returns to work after coronavirus recovery Republicans push to expand small business loan program.
  6. Sports: Indy 500 to be held without fansRafael Nadal opts out of U.S. Open.
Updated 1 hour ago - World

At least 50 killed, 3,000 injured after massive explosion rocks Beirut

Photo: Anwar Amro/AFP via Getty Images

A major explosion has slammed central Beirut, Lebanon, damaging buildings as far as several miles away and injuring scores of people.

Driving the news: Lebanon's health minister said in televised remarks that more than 50 people have been killed and over 3,000 injured. Prime Minister Hassan Diab said the explosions occurred at a warehouse that had been storing 2,750 tons of ammonium nitrate for the past six years, per NBC.