Photo: Omar Marques/SOPA Images/LightRocket via Getty Images

The upshot of the revised OPEC+ deal seems to be that they've kept a floor under prices for now and even pushed them up, but they've hardly juiced the market.

Catch up fast: OPEC and allied producers including Russia on Friday deepened their production-limiting deal by 500,000 barrels per day as they seek to prevent a glut. But there was a twist: Saudi Arabia pledged to continue with a voluntary output cut of another 400,000 daily barrels.

  • That means an overall cut of 2.1 million barrels per day through March, when they'll revisit things.

Where it stands: Brent crude is trading down at roughly $63.79 this morning, slipping after a $1-per-barrel rise Friday that capped several days of gains as officials met to discuss production cuts.

What they're saying: Barclays analysts, in a note, called the cut "surprisingly deep."

  • But they caution: "[A] lack of clarity on the path for the group's output beyond 31 March 2020 and the exclusion of condensates from Russia's target calculations partly tempered the bullish sentiment."
  • Rapidan Energy Group, which had been predicting such a cut, expressed doubt about its efficacy.

But, but, but: They doubt it will be enough to "avert steep inventory builds (well above seasonal swings) and a corresponding crude price selloff in the coming weeks-to-months."

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In photos: Deadly wildfires devastate California's wine country

The Shady Fire ravages a home as it approaches Santa Rosa in Napa County, California, on Sept. 28. The blaze is part of the massive Glass Fire Complex, which has razed 46,600 acres at 2% containment. Photo: Samuel Corum/Agence France-Presse/AFP via Getty Images

Some 18,700 firefighters are battling 27 major blazes across California, including in the heart of the wine country, where one mega-blaze claimed the lives of three people and forced thousands of others to evacuate this week.

The big picture: 8,155 wildfires have burned across a record 3.86 million acres, killing 26 people and razing almost 7,900 structures in California in per Cal Fire. Just like the deadly fires of 2017, the wine country has become a wildfires epicenter. Gov. Gavin Newsom has declared a state of emergency in Napa, Sonoma, and Shasta counties.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 12:30 a.m. ET: 33,560,877 — Total deaths: 1,006,564 — Total recoveries: 23,297,593Map.
  2. U.S.: Total confirmed cases as of 12:30 a.m. ET: 7,190,036 — Total deaths: 205,974— Total recoveries: 2,809,674 — Total tests: 103,155,189Map.
  3. Health: Americans won't take Trump's word on the vaccine, Axios-Ipsos poll finds.
  4. Politics: 7 former FDA commissioners say Trump is undermining agency's credibility
  5. States: NYC's coronavirus positivity rate spikes to highest since June.
  6. Sports: Tennessee Titans close facility amid NFL's first coronavirus outbreak.
  7. World: U.K. beats previous record for new coronavirus cases.
  8. Work: United States of burnout — Asian American unemployment spikes amid pandemic
Mike Allen, author of AM
Updated 2 hours ago - Politics & Policy

The first Trump v. Biden presidential debate was a hot mess

Photos: Jim Watson and Saul Loeb/AFP via Getty Images

This debate was like the country: Everybody’s talking. Nobody’s listening. Nothing is learned. It’s a mess.

  • We were told President Trump would be savage. Turned out, that was a gross understatement. Even the moderator, Fox News' Chris Wallace, got bulldozed.

Why it matters: Honestly, who the hell knows?