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

Updated 21 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 a.m. ET: 31,032,045 — Total deaths: 960,729— Total recoveries: 21,255,717Map.
  2. U.S.: Total confirmed cases as of 3 a.m. ET: 6,805,342 — Total deaths: 199,511 — Total recoveries: 2,590,671 — Total tests: 95,108,559Map.
  3. Politics: Testing czar on Trump's CDC contradictions: "Everybody is right" Ex-FDA chief: Career scientists won't be "easily cowed" by political vaccine pressure.
  4. Education: What we overlooked in the switch to remote learning.
  5. Health: The dwindling chances of eliminating COVID-19 — 7 states set single-day coronavirus case records last week.
  6. World: England sets £10,000 fine for breaking self-isolation rules — The countries painting their pandemic recoveries green.
Updated 40 mins ago - Politics & Policy

Biden raises $141 million more than Trump

Combination images of President Trump and his 2020 presidential rival Joe Biden. Photo: Sarah Silbiger/Getty Images/Alex Wong/Getty Images

Joe Biden's campaign, the Democratic National Committee and joint fundraising committees raised $466 million cash on hand, the presidential candidate's team announced late Sunday.

Why it matters: President Trump's campaign raised $325 million cash on hand, his campaign communications director Tim Murtaugh announced Friday. In the spring, Biden was $187 million behind Trump and the Republican National Committee.

Virtual Emmys address chaotic year for American TV and society

Emmy Host Jimmy Kimmel during rehearsals Friday for the 72nd Annual Emmy Awards at the Staples Center in Los Angeles. Photo: Al Seib/ Los Angeles Times via Getty Images

The Emmy Awards Sunday night addressed the major U.S. issues this year — including the protests on systemic racism and police brutality, the wildfires engulfing parts of the West Coast, the census, the pandemic, essential works and the election.

Why it matters: Award shows have always addressed wider cultural issues, but this year — amid unprecedented stress and uncertainty — that trend has accelerated.