Reuters | Oil hits new five-year low below $56 as supply glut persists Reuters Brent has slumped to its lowest in more than five years as top exporter Saudi Arabia and other large Gulf producers continue to pump oil amid fast-growing U.S. shale oil output, despite pleas from other Organization of the Petroleum Exporting Countries ... Russia and Iraq Supply Most Oil In Decades Amid 2015 Glut Oil falls back from early New Year gains LETTER Low oil prices are great — maybe |