Singapore: Oil slid on Friday as worries about demand for fuel being sapped by the global coronavirus outbreak were heightened by concern over non-OPEC crude producers not yet having agreed to cut output further to support prices.
Brent crude fell 47 cents, or 0.9%, to $49.52 per barrel by 0223 GMT, while U.S. West Texas Intermediate (WTI) was down 42 cents, or 0.9%, at $45.48 per barrel.
The Organization of the Petroleum Exporting Countries (OPEC) on Thursday pushed for crude output by OPEC and associated producers – a group known as OPEC+ – to be cut by an extra 1.5 million barrels per day (bpd) in total until the end of 2020. The call came ahead of an OPEC+ meeting scheduled for Friday in Vienna.
