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Oil prices rose on Tuesday after a U.S. agency said shale output in the world's biggest crude producer would fall by the most on record in April, adding to cuts from other major producers.

Asian stocks bounced on Tuesday on hopes the coronavirus outbreak may be peaking, though sentiment was cautious ahead of Chinese trade data and corporate earnings as investors worried about a deep global recession.

The founders of Malaysia's AirAsia Group Bhd will not take salaries and its staff has agreed to an as much as 75% cut in pay due to the impact of the novel coronavirus outbreak on the airline, its chief executive said late on Saturday.

As the U.S. Federal Reserve rolls out trillions of dollars to blunt the economic fallout of the coronavirus pandemic, there's a notable difference to the last financial crisis: close to zero concern over "moral hazard" - the sticky business of bailing out those whose dilemma is of their own making.

OPEC and its allies will hold a virtual meeting on Sunday evening in a bid to end a standoff that has prevented the finalisation of a global oil supply cut pact, six OPEC+ sources said.

As markets careeen amid coronavirus-fueled economic volatility, financial advisors are at the eye of the storm. We asked five members of the CNBC Financial Advisor Council what they're telling clients, whether they're helping them reallocate and how the downturn is impacting their own fortunes.

Russian Energy Minister Alexander Novak and Saudi Energy Minister Prince Abdulaziz bin Salman will chair an OPEC and non-OPEC online meeting later on Sunday, the Azerbaijan energy ministry said.

Smithfield Foods, the world's biggest pork processor, said on Sunday it will shut a U.S. plant indefinitely due to a rash of coronavirus cases among employees and warned the country was moving "perilously close to the edge" in supplies for grocers.

OPEC, Russia and other oil producing nations were meeting on Sunday in a bid to clinch a deal on the biggest oil cut ever, amounting to 10 percent of global supply, after their initial efforts to support oil prices amid the coronavirus pandemic were blocked by Mexico.

OPEC, Russia and other oil producing nations agreed on Sunday to cut output by a record amount, representing around 10% of global supply, to support oil prices amid the coronavirus pandemic.

Mexico's Energy Minister Rocio Nahle said on Sunday oil producers unanimously agreed to cut output by 9.7 million barrels per day from May at OPEC+ talks and thanked OPEC members for their support in reaching the deal.

OPEC, Russia and other oil producing nations agreed on Sunday to cut output by a record amount, representing around 10% of global supply, to support oil prices amid the coronavirus pandemic, sources said.

Kazakhastan's Energy Ministry said on Sunday it confirmed reports that the OPEC+ group of countries had agreed to cut the global oil output by 9.7 million barrels per day for two months starting on May 1.

The European Union's competition chief told the Financial Times that member countries should buy stakes in companies to counter the threat of Chinese takeovers, with her comments coming as the EU formulates plans to protect its businesses amid the coronavirus outbreak.

Mexico will reduce its oil output by 100,000 barrels per day (bpd) from May after top oil producers collectively agreed to cut production by 9.7 million barrels per day at OPEC+ talks, Mexican officials said on Sunday.