OPEC is inclined to extend the ongoing production cuts at least through June and could discuss deeper cuts if need be, OPEC sources told Reuters on Tuesday, as oil prices continue to slide on fears that the coronavirus outbreak in China will impact oil demand. OPEC is very likely to extend until June the current cuts, which expire in March, one source in OPEC told Reuters, while another added that “A further extension is a strong possibility and a deeper cut is a possibility.” The cartel could also consider rolling over the cuts as-is until the end of the year, or even deepen the cuts if the demand destruction turns out to be significant, according to the sources. Even Russia—which has always been OPEC’s reluctant partner agreeing to rollover of the cuts at each OPEC+ meeting at the very last moment and which is said to want out after […]