Falling demand linked to the covid-19 epidemic has put pressure on oil prices. Last week, Saudi Arabia pushed hard for a reduction in the amount of oil produced by OPEC nations and those, such as Russia, that are aligned with OPEC. But Russia balked, and Saudi Arabia then turned 180 degrees and announced a sharp increase in production, intended to drive prices down. Oil fell to nearly $30 a barrel Monday but recovered somewhat Tuesday. On Tuesday, the kingdom said it would begin producing 12 million barrels a day starting April 1, up more than 2 million barrels from current levels.