Russia Is The Critical Factor In Oil Markets Right Now

U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are edging higher on Friday as investors continue to increase bets that OPEC and its allies will come through with the production cuts a technical committee recommended the week-ending February 7. The price action also suggests that traders are a little more optimistic that the coronavirus outbreak has reached a peak and that the demand crisis may be ending. The markets are also on track for their first weekly gain since early January. OPEC Cuts Forecast for Oil Demand…