Oil slipped to around $26 a barrel on Friday as weak demand due to the coronavirus crisis and excess supply pressured the market, even as OPEC and its allies began a record output cut. The global oil benchmark, Brent crude, has collapsed 60 percent in 2020 and reached a 21-year low last month as the coronavirus pandemic squeezed demand and OPEC and other producers pumped at will before reaching a new supply cut deal which began on Friday. Brent for July fell 46 cents, or 1.7%, to $26.02 at 0825 GMT.
