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Urgent: Oil prices plunge amid ample supplies

Xinhua, August 4, 2015 Adjust font size:

Oil prices plummeted Monday as market expected crude production from the Organization of Petroleum Exporting Countries (OPEC) hit record high in July.

The West Texas Intermediate for September delivery moved down 1. 95 U.S. dollars to settle at 45.17 dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery decreased 2.69 dollars to close at 49.52 dollars a barrel on the London ICE Future Exchange. Endite