File photo of a pump jack at sunrise near Bakersfield

A pump jack is seen at sunrise near Bakersfield, California in this October 14, 2014 file photo. Oil prices fell on Tuesday, with Brent mired near a 5-1/2 year low close to $60 per barrel, as Chinese factory activity slowed for the first time in seven months and stumbling emerging market currencies dented demand expectations. REUTERS/Lucy Nicholson/Files (UNITED STATES – Tags: ENERGY BUSINESS TPX IMAGES OF THE DAY)

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