The BoJ's liquidity gambit, coupled with the....>

OIL: The BoJ's liquidity gambit, coupled with the potential for OPEC+ nations to

reach a production accord, (with or without Russia) when they convene later this

week (per RTRS sources) allowed crude to trade higher in Asia-Pac hours, more

than reversing the early losses, with WTI & Brent well over $1.00 better off vs.

settlement.

- It is worth highlighting that weekend commentary saw Russian President Putin

note "that the fact that Russia has large financial reserves to cushion the

impact of turbulence in the market "doesn't eliminate the need for action,

including in cooperation with our foreign partners," per BBG.

- However, it is worth flagging that the nations present at the meeting are

seemingly debating on whether or not the meeting will actually go ahead on the

back of the coronavirus outbreak. A Guardian reporter noted that delegates will

make a decision on the matter at some point on Monday.

- Elsewhere, Iraq's federal crude oil exports rose 3.3% M/M in February.