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Urgent: Oil prices retreat amid growing supplies

Xinhua, June 12, 2015 Adjust font size:

Oil prices dropped Thursday as the Organization of Petroleum Exporting Countries (OPEC) increased their output.

Light, sweet crude for July delivery moved down 66 cents to settle at 60.77 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for July delivery decreased 59 cents to close at 65.11 dollars a barrel. Endite