Extending the drop from its lowest close since 2009,oil is again on the decline, as record Russian production and the highest Iraqi exports since 1980 add to the concerns of oversupply. Brent crude is down 2.1% at $55.26/bbl, while WTI is down 2% at $51.66. The two oil benchmarks have now lost more than half of their value from peaks hit in mid-2014.