Oil Keeps Falling

Brent Crude fell to $65.95 at 9 a.m. GMT Wednesday, after holding above $66 a barrel earlier this morning.

Crude oil was trading below $63 at 9 a.m. GMT, losing 1.61%.

Reuters this morning reported that the falling oil prices have started to affect US domestic production, with the US Energy Information Administration (EIA) cutting its forecasted growth by 100,000 barrels per day, a move linked to a generally weaker oil demand.

Larger US production, mainly from shale basins, is one of the main drivers behind crashing oil prices.

That's why the chart below, representing the US shale oil boom over the last three years, has been called Business Insider's "chart of the year."