NEW YORK, Oct 15 (Reuters) - U.S. crude futures dropped to a fresh 13-month low Wednesday morning as concerns about falling demand in a recession economy and slumping equities kept pressure on oil markets. OPEC's monthly report lowering its 2009 demand view and analysts' expectations that crude and refined products supplies rose last week also helped paint a bearish picture for oil traders. A $5 drop to $73.63 on Wednesday would put crude oil futures 50 percent below their record peak of $147.27 on July 11. Crude and products futures fell, "continuing to slide on the back of weaker global equities markets and fears that a protracted global recession will crimp oil demand," Addison Armstrong, analyst at Tradition Energy, wrote in a report. PRICES * On the New York Mercantile Exchange at 11:20 a.m. EDT (1520 GMT), November crude CLX8 was down $3.72, or 4.73 percent, at $74.91 a barrel, trading from $74.57 -- its lowest since $73.48 was struck on Sept. 4, 2007 -- to $79.17. * In London, November Brent LCOX8 was down $3.76, or 5.04 percent, at $70.77 a barrel, trading from $70.21 -- the lowest since prices hit $69.49 on Aug. 27, 2007 -- to $75.04. * NYMEX November RBOB RBX8 fell 9.19 cents, or 4.88 percent, to $1.7929 a gallon, trading from $1.7845 -- the lowest since $1.7825 on Feb. 28, 2007 -- to $1.8965. * NYMEX November heating oil HOX8 fell 6.27 cents, or 2.77 percent, to $2.1970 a gallon. It traded from $2.1839, the lowest since $2.1737 was hit on Oct. 10, 2007, to $2.2908. * The heating oil crack spread <0#CL-HO=R> was at $17.36 a barrel, and the RBOB crack spread <0#RB-CL=R> had edged into positive territory at plus 39 cents. TECHNICALS NYMEX crude 10-day/20-day moving average: $85.44/$95.03 Technical support/resistance: NYMEX crude: $73.25/$82.40 NYMEX heating oil: $2.19/$2.30 NYMEX RBOB: $1.7810/$1.9135 MARKET NEWS * U.S. stocks extended losses in morning trading after a government report showed that U.S. retail sales last month slid by the biggest monthly drop in more than three years, deepening fears that efforts to ease the credit crisis would not avert a recession. [.N] * Among other economic indicators just released, a measure of inflation eased, according to government data, and a gauge of manufacturing in New York State tumbled in October to the lowest since its inception in 2001. [ID:nN15304299] * OPEC cut its forecast for world demand for its crude in 2009 ahead of a November meeting where the group is expected to consider output cuts. [ID:nWLB2749] * Weekly U.S. petroleum inventory data due on Thursday is forecast to show crude and refined products supplies to have risen last week, a Reuters analyst survey showed. [EIA/S] * NYMEX November crude oil contract options expire Thursday. * For a list of top energy news stories, click [TOP/O] (Reporting by Gene Ramos and Robert Gibbons)

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