Oil prices sank about 1 per cent on Tuesday as fears that energy demand would take a long-term hit from the growing coronavirus outbreak outweighed hopes for more production cuts from OPEC and its allies.

Oil falls 1% as demand fears outweigh hopes for bigger OPEC+ cuts

OPEC oil cuts at risk as Russia yet to commit

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Oil falls 1% as demand fears outweigh hopes for bigger OPEC+ cuts

OPEC oil cuts at risk as Russia yet to commit