Oil below $40 per barrel, near 4-year low

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Reuters Tags : markets world, crude oil, price Posted: Thursday , Dec 18, 2008 at 1206 hrs

Oil prices dropped to their lowest in more than four years after OPEC announced a supply cut.

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The cut has sent the US dollar tumbling against major currencies, hitting the weakest in more than 13 years against the yen on Wednesday.

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