Asian Shares Fall, Oil Gains After OPEC Plus Strikes Deal

Shares were mostly lower Monday in Asia while crude prices gained more than $1 per barrel after OPEC and other oil producing nations agreed to cut output to reflect the collapse of demand due to the pandemic. Just hours before markets reopened, OPEC, Russia and other oil producers finalized an unprecedented production cut of nearly 10 million barrels, or a tenth of global supply, seeking to boost crashing prices and end a price war. U.S. benchmark crude jumped $1.30 to $24.06 per barrel in electronic trading on the New York Mercantile Exchange. It had fallen $2.33, or 9.3%, to $22.76 per barrel on Thursday,...