Oil Rallies As Russia Agrees With OPEC+ Not To Raise Output In February

Oil prices rallied on Tuesday morning, following reports that Russia—the OPEC+ producer that was insisting on a 500,000-bpd production increase in February—has agreed that there would not be another rise in the pact's production next month. Both benchmarks were up by more than 3 percent as of 10 a.m. ET, with WTI Crude surging above $49.50 a barrel and Brent Crude trading at $52.80 after several reports emerged that Russia had accepted a compromise not to push for another increase next month.   "An informed source just told me…