Oil advanced for a second day after an OPEC+ committee recommended a larger supply cut to offset lost demand from the spread of the coronavirus.

Oil plunged to the lowest level in 14 months as panic from the fast-spreading coronavirus spiraled global markets deeper into losses for the seventh straight day.

Oil deepened a three-day rout as panic over a coronavirus outbreak in the U.S. gripped investors and sent shockwaves through commodity, equity and debt markets.

Oil ended the session Feb. 18 flat after U.S. sanctions on Russia’s largest oil producer helped to erase losses driven by lingering concerns that coronavirus will cut demand.

Though oil slid to an eight-week low, the drop was tempered by an unexpected decline in U.S. crude inventories and as the World Health Organization opted against declaring the virus a global health emergency.