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Oil prices extend losses on ample supply

Xinhua, October 13, 2016 Adjust font size:

Oil prices retreated further Wednesday after the Organization of Petroleum Exporting Countries (OPEC) reported its September oil output at eight-year highs.

The West Texas Intermediate for November delivery fell 0.61 U.S. dollar to settle at 50.18 dollars a barrel on the New York Mercantile Exchange, while Brent crude for December delivery decreased 0.60 dollar to close at 51.81 dollars a barrel on the London ICE Futures Exchange. Endit