Oil output cuts 'simply not enough' for 'overwhelming decline' in global demand: Bernstein

With global oil demand set to drop by 20 million barrels per day in the second quarter of 2020, amid the coronavirus pandemic, oil markets remain oversupplied and prices may average about $20 a barrel or less this quarter, says Neil Beveridge, senior oil and gas analyst at Bernstein.
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Mon, Apr 27 20202:06 AM EDT