An man refuels a vehicle next to a pricing quotation board at a petrol station in Tokyo December 17, 2014.
US crude and Brent futures dropped to fresh 5-1/2-year lows on Monday as worries about a surplus of global supplies amid weak demand continued to drag on oil markets.
OPEC's decision in November to maintain output had accelerated oil's losses earlier, while record-high Russian production and the highest Iraqi exports since 1980 added to the concerns about oversupply.
The two oil benchmarks, Brent and West Texas Intermediate, have now lost more than half of their value from peaks hit in the middle of last year.
Nhandan
