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Saudi Energy Minister Abdulaziz bin Salman Al Saud in Vienna on March 5. Photo: Askin Kiyagan/Anadolu Agency via Getty Images

OPEC ministers have agreed to push for deepening their joint production-cutting agreement with Russia and allied producers by 1.5 million barrels per day, per reports from Vienna.

Why it matters: The cartel is trying to grapple with how the novel coronavirus is sapping oil demand and depressing prices.

  • All eyes are now on Russia, which has yet to endorse the plan. Per Bloomberg, OPEC officials are "gambling that they can overcome Russian opposition that could block the move."

Where it stands: The latest sign of coronavirus' effect on the market came this morning. The consultancy Wood Mackenzie estimated global oil demand this quarter will fall by 2.7 million barrels per day compared to a year earlier.

  • It's among several estimates that show the economic hit from the virus not only slowing oil demand but throwing it into reverse.

Go deeper: Fueled by coronavirus, global oil demand set to drop record amount

Go deeper

Casinos throw cash at sports betting media

Illustration: Sarah Grillo/Axios

Casinos are investing millions on sports betting content to lure bettors to their online and in-person sportsbooks.

Why it matters: It’s a mini gold rush for some sports media companies that were struggling in the pandemic.

Ben Geman, author of Generate
10 mins ago - Energy & Environment

Global carbon emissions rebound to pre-COVID levels

Newly released data show that global CO2 emissions had returned to pre-pandemic levels by the end of last year and surpassed them in some major economies.

Why it matters: The International Energy Agency warned that clean energy efforts are falling short.

Civil rights leader and Bill Clinton adviser Vernon Jordan dies at 85

Vernon Jordan. Photo: Andy Kropa/Getty Images

Vernon Jordan, the Civil Rights Movement pioneer who served as a close adviser to former President Clinton, died on Monday evening, CNN reports. He was 85.

Why it matters: The former National Urban League president was influential in American politics — from his service in President Lyndon B. Johnson’s civil rights conference to his position in leadership at the NAACP.