Reuters: Oil drops 9 percent to below $50 as OPEC defers cuts

[chris]

Oil drops 9 percent to below $50 as OPEC defers cuts
      

NEW YORK (Reuters) - Oil plunged more than 9 percent to below $50 a barrel on Monday after OPEC deferred a decision on new supply cuts at a meeting over the weekend.<div class="feedflare">
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