Where Will It Stop? Oil Drops To 2009 Prices
Oil prices dropped to their lowest since May 2009 on Tuesday, prompting how-low-can-it-go questions as OPEC and others refuse to flinch.By Cliff Judy | December 30, 2014
Falling oil prices probably won't have the average consumer feeling sorry for oil producers, but the current slide certainly has continued longer than expected.
The low prices came about because of a huge glut in the world's oil supply. Much of that supply in the U.S. has been attributed to fracking of shale oil in areas like North Dakota and Texas. (Video via Journeyman Pictures)
Despite losing billions compared to what market prices were just months ago, OPEC's largest producers haven't flinched or slowed their production to get prices back up. But why? (Video via RT)