Brent crude fell 49 cents, or 0.98%, to $49.50 per barrel, WTI was down 46 cents, or 1%, at $45.44 per barrel.

With oil prices tumbling, OPEC now wants to deepen its production cuts with non-OPEC allies by 1.5 million b/d for the full year 2020, instead of just the second quarter, sources said Thursday.

Средняя цена на нефть марки Urals в январе-феврале 2020 года сложилась в размере $ 58,13 за баррель

Brent rose by 78 cents, or 1.50%, to $52.64 a barrel, WTI rose by 72 cents, or 1.53%, to $47.90 a barrel,

“Conoravirus ... is a short-lived factor which is affecting oil prices ... There will be an OPEC (and non-OPEC) meeting, compensatory measures will be taken which will take the excess oil off the market and the oil price will rebound,” Fedun said.

Bulgaria imports 2.9 billion cubic meters of gas from Russia per year under a long-term contract valid through 2022.

Brent was at $51.91 a barrel, up $2.24 or 4.5%, WTI hit a 14-month low of $43.32, before recovering to $46.65, up $1.89, or 4.2%.

"I want to emphasize, for the Russian budget, for our economy, current oil prices are acceptable. Let me remind you that this year, as part of our macroeconomic policy, we took a Brent crude price of $42.40/b as the base level," Putin said during a meeting on the impact of the coronavirus on the global economy and the oil market with government ministers and representative of oil and gas companies.

Despite heavy lobbying by Saudi Arabia, the 23-country coalition of OPEC and non-OPEC producers has yet to agree on any plans to rein in crude oil production further.

Russian oil output stood at 11.29 million barrels per day (bpd) in February,

Brent was down $1.74, or 3.3%, at $49.99 a barrel, WTI fell $1.89, or about 4%, to $45.20.

Brent rose 33 cents, or 0.6%, to $55.28 a barrel, WTI gained 41 cents, or 0.8%, to $50.31 a barrel.

The global impact of coronavirus will only be “short term”, according to the CEO of Saudi Aramco.

Brent fell by $1.42, or 2.4%, to $57.08 a barrel, WTI fell by $1.26, or 2.4%, to $52.12.

Brent was down 64 cents, or 1.1%, at $58.67 a barrel, WTI dropped 54 cents, or 1%, at $53.34 a barrel.