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Analysts speculate that OPEC and Russia could agree to a production freeze.
Russia's Energy Minister Novak has said he could consider output cuts if other producers joined in.
BRICS countries represent 43 per cent of the world’s population.
Trade with China's three biggest trade partners, the EU, the US and the Asian bloc ASEAN, all dropped around 10%.
Boko Haram's wave of violence remains unabated despite an African coalition of armies fighting the Islamist group.
Brazil's President on Saturday vowed her country would host a successful Olympic Games this year despite the outbreak of the virus.
Chinese Foreign Minister Wang Yi said this "would complicate the regional stability situation".
Disappointment over corporate earnings and global risk aversion have led Indian equities into a bear market this week.
The deal comes as a Syrian group says 470,000 have been killed in the five-year conflict.
The government believes that as many as 1.5 million Brazilians may have been infected by Zika so far.
