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Crude down sharply as IEA pares oil demand forecasts

Opec needs to further cut output to balance the oil market: analyst

Fri, Sep 12, 2014 - 6:00 AM

[LONDON] Brent crude declined to its lowest intraday level in more than two years, and West Texas Intermediate (WTI) to a 16-month low, as the International Energy Agency (IEA) cut global oil demand forecasts for this year and next.

Futures slid as much as 1.4 per cent in London and New...

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