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Crude Oil Price Hits 12-year Low

Abundant crude oil and weakening energy demand from China's huge economy helped push global crude oil prices down Tuesday to the lowest level in 12 years. Prices were around $30 a barrel, a drastic fall from costs that once exceeded $100 a barrel. A U.S. oil industry trade group has said low oil prices are already cutting investment in production facilities, and that will eventually crimp output. In a report published Tuesday, government experts said U.S. crude oil production...

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