Reuters | Oil falls under $55 after Saudi Arabia sticks to its guns Reuters China's February crude oil imports from Iran fell 3.7 percent from a year ago to 2.04 million tonnes. China boosted overall imports late last year, taking advantage of cheap oil to build its reserves, but storage tanks could be reaching their limits ... Oil Price Dips Under $55 on Saudi Output Fears Non-OPEC members urged to co-operate on oil price Opec is prepared to wait out the slump in oil prices |