Oil jumped to a four-month high after President Donald Trump indicated that he doesn’t want to add more sanctions against Chinese officials for now in a move to diffuse tensions with Beijing.

Oil retreated before an OPEC+ committee meeting this week that may confirm the group’s intention to taper production cuts even as the coronavirus surges in many countries, including the U.S.

Oil prices rose after Russia slashed exports of its flagship crude Urals to the lowest in at least 10 years, signaling the determination of Moscow to work with its partners at OPEC+ to eliminate an oil glut.