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As coronavirus spreads, oil prices fall

Source: Cathy Bussewitz, usnews.com, March 03, 2020

As global demand weakens, shares for oil giants like Exxon and Chevron have fallen, while smaller producers with idling rigs continue to slash jobs.

NEW YORK (AP) — With the viral outbreak spreading to more countries, the price of oil has dropped precipitously as global demand weakens even further.

That has sent shares tumbling for oil giants like Exxon and Chevron while smaller producers with idling rigs continue to slash jobs.

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