Oil prices persistently low as WTI goes below 2002 levels

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Reuters LONDON: Oil prices extended their slump Wednesday, with WTI hitting the lowest level since 2002 as planned output cuts were deemed insufficient to offset a coronavirus-fuelled slump in demand. The benchmark WTI contract tumbled to $19.20 per barrel, the lowest level in 18 years. Shortly after, around 0920 GMT, WTI was down 2.3%

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