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Wednesday, 21 January 2015 - 15:53
Oil prices slide after IMF cuts global growth forecast
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Crude oil prices slumped after the International Monetary Fund slashed its world economic growth forecast, stoking fresh fears about the strength of crude demand.

US benchmark West Texas Intermediate for February sank 4.7 per cent, to 46.39 dollars a barrel, not far from its lowest level since March 2009.

The IMF reduced its global economic growth forecast for this year to 3.5 per cent and 3.7 per cent in 2017 on the back of weaker momentum in nearly all major economies except the United States.

 
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