Oil prices are mixed in early Asian trade as demand worries continue to plague the market.
If the coronavirus outbreak deals a larger-than-expected blow to the Chinese economy, more OPEC+ oil output cuts may just about be the only thing that could help stem the slide in oil prices, FXTM says. However should major oil producers "stay on the side lines and do nothing," oil bears may send brent crude below $50 per barrel, it says.
Front-month WTI is up 0.3% at $49.71 a barrel and Brent futures are down 1.1% at $53.83 a barrel.
Source : Bloomberg