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Oil plunge a panacea for crude-reliant Asia

A renewed plunge in oil prices is a worrying sign of weakness in the global economy that could shake governments dependent on oil revenues. It is also a panacea as pump prices fall, giving individuals more disposable income and lowering costs for many businesses. Partly because of the shale oil boom in the U. S. , the world is awash in oil but demand from major economies is weak so prices are falling. The latest slide was triggered by OPEC's decision Thursday to leave its production target at...

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