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Oil falls despite Opec output cut

Posted on 27 January 2009

From BBC: Oil prices have fallen by more than $1 a barrel on continued forecasts of a deepening global economic downturn. US light crude for March delivery fell $1.22 to $45.25 a barrel, before recovering slightly to $45.52. London Brent crude slipped $1.00 to $47.37.

Oil prices rose by 14% towards the end of last week on evidence that Opec oil producers were reducing output….. Full Article: Source


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