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Urgent: Oil prices drop amid ample supplies

Xinhua, January 16, 2015 Adjust font size:

Oil prices fell Thursday as the Organization of Petroleum Exporting Countries (OPEC) would not cut production in response to the slump.

Light, sweet crude for February delivery plunged 2.23 U.S. dollars to settle at 46.25 dollars a barrel on the New York Mercantile Exchange. Endite