Oil price slides as demand worries overshadow OPEC deal to deepen supply cuts

A banner gives safety instructions to advise people how to protect against a coronavirus infetion at the foyer of the OPEC building before the 178th meeting of the Organization of Petroleum Exporting Countries (OPEC) in Vienna, Austria, yesterday. - Reuters

NEW YORK: Oil prices fell on Thursday as the coronavirus epidemic showed no signs of slowing, feeding worries about the global economy and prompting investors to sell more risky assets like stocks and crude oil and park money in safe havens.

Oil's losses came even as OPEC agreed to cut crude output by an extra 1.5 million barrels per day (bpd) in the second quarter, its deepest cut since the 2008 financial crisis.