Baker Hughes
Oil services company Baker Hughes will lay off 7,000 people due to falling crude oil prices.
Sources: AP via ABC News America
Sources: AP via ABC News America
Angola leaves OPEC over a dispute on crude oil production quotas.
Russia's Lukoil begins shipping crude oil from Murmansk to Madre de Deus, Brazil.
As new Libyan production comes on line, the world price of crude oil falls below $55 a barrel.
Uncertainty in Libya leads to falls in world stock markets and increases in crude oil prices.