Economic news

Oil slips away from nine-week peak

Oil prices slumped on Monday amid rising concerns over high output from OPEC and growth in U.S. drilling.

October Brent crude dipped 1.14 percent, to $51.82 a barrel. West Texas Intermediate for delivery in September lost 1.11 percent, to $49.03 per barrel.

Investors focused on two-day OPEC meeting in Abu Dhabi, expecting output curbs will normalize the market.

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