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Oil plunges to 13-month low on global slowdown

AP - Fri Oct 10, 4:47 PM ET

NEW YORK - The stunning collapse in oil markets accelerated Friday, sending a barrel of crude plunging below $78 as investors grow more pessimistic about resolving a mushrooming global economic crisis.

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Security officers overlook a street from a rooftop of the OPEC headquarters in Vienna. Iran on Sunday predicted that OPEC would cut oil output at its November meeting in ...

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