Barclays cuts 2020 crude forecasts by $12 on virus, OPEC+ deal collapse
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(Reuters) - Barclays on Tuesday slashed its oil price forecasts for 2020, citing considerable downward pressure on the market from a Saudi-Russian price war and demand disruption because of the coronavirus.The bank lowered its 2020 price outlook for Brent and West Texas Intermediate by $12 each to $31 and $28 per barrel respectively."Prices are likely to remain under pressure until the virus situation turns the corner, and if we continue on the projected market balances path, even Saudi Arabia..