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Oil prices drop 25%, steepest since 1991 Gulf War

Published  March 10, 2020 10:04am CDT
Associated Press

NEW YORK -- The price of oil plunged nearly 25% after Saudi Arabia indicated it would ramp up production after Russia refused to production cutbacks in response to falling demand.

Frank Macchiarola of the American Petroleum Institute says the drop was the steepest for oil since the 1991 Gulf War.

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