Oil prices edged lower on Friday as Russia said it needed more time before committing to output cuts sought by other large producers as the coronavirus outbreak fans worries about global crude demand. Oil was on track for its fifth straight weekly decline, as speculators have backed away due to weaker consumption figures and expectations that the virus, which has killed more than 600 people, will remain a drag on demand. Brent crude LCOc1 futures lost 30 cents to $54.63 a barrel by 1:41 p.m. EST(1841 GMT). Brent was headed for a 6% loss for the week. U.S. West Texas Intermediate (WTI) crude CLc1 futures fell 44 cents to $50.51 a barrel, on track for […]