Barclays cuts 2020 oil price outlook on price war, virus impact
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(Reuters) - Barclays on Tuesday slashed its oil price forecasts for 2020, citing OPEC's failure to convince its allies including Russia to cut production further, which led to Saudi Arabia saying it would raise its output in April despite sluggish global demand. The bank lowered its 2020 Brent price forecast to $43 per barrel and West Texas Intermediate (WTI) price outlook to $40. The bank had previously forecast Brent prices at $59 per barrel for this year and WTI at $54, as of..