Cost Of Oil Continues Steep Drops, As US Production Increases And Foreign Companies Lower Price

RIDGWAY, IL – JANUARY 21: An idled pump jack, once used to extract crude oil from the ground, sits above a well on the edge of a farmers field on January 21, 2015 near Ridgway, Illinois. With oil prices near a 5 1/2-year low, oil companies are beginning to slow drilling operations in the United States. Scott Olson/Getty Images/AFP