Barclays cuts 2019, 2020 oil price forecasts on demand woes

(Reuters) - Barclays on Thursday lowered its oil price forecasts for the second half of this year and 2020, saying it expected slower demand growth due to a weaker-than-expected global macroeconomic backdrop.The bank cut its 2019 Brent and U.S. West Texas Intermediate (WTI) price forecasts by $2 to $69 per barrel and $61 respectively. It also cut its 2020 view for Brent by $6 to $69 and by $5 to $62 a barrel for WTI. Consumption growth is likely to slow to just over 1 million barrels per day..