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Archive Home > 2008 > October > 16 > Oil dips below $75 as OPEC cuts forecast

Oil dips below $75 as OPEC cuts forecast


October 16, 2008

NEW YORK — Oil prices closed below $75 a barrel for the first time in nearly 14 months Wednesday after OPEC, fearing that a severe global economic slowdown is unavoidable, slashed its 2009 petroleum demand forecast. Another bad day on Wall Street also pressured oil prices, which have....

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