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Urgent: Oil prices plunge as OPEC output increases

Xinhua, August 12, 2015 Adjust font size:

Oil prices dived Tuesday as crude output from the Organization of Petroleum Exporting Countries ( OPEC) increased in July.

The West Texas Intermediate for September delivery moved down 1. 88 U.S. dollars to settle at 43.08 dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery decreased 1.23 dollars to close at 49.18 dollars a barrel on the London ICE Future Exchange. Endite