Crude oil dips to US$40 as data points to weakening economies

Data pointing to weaker economies continues to indiacte eroding demand, plunging crude oil prices to US$40/barrel on the New York Mercantile Exchange. Despite the latest OPEC production cut that came into effect on the firs day of the year, crude oil prices have dipped, and so have heating oil prices to US$1.488/gallon.
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