Oil slides as demand fears outweigh hopes for bigger OPEC+ cuts

NEW YORK (Reuters) - Oil prices edged lower on Tuesday as fears that energy demand would take a long-term hit from the coronavirus outbreak offset prospects for more cuts in crude production from OPEC and its allies.Brent crude slid 4 cents to $54.41 a barrel by 1:40 p.m. EST (1840 GMT) while U.S. West Texas Intermediate (WTI) crude lost 9 cents to $50.02."I think the market is still concerned that it doesn't know the full demand destruction from the coronavirus," said Andy Lipow of Lipow Oil..