January 5, 2015 / 4:38 PM / 3 years ago

BUZZ-Oil and gas producers: Prices drop to fresh lows

(Updates)

** Oil and gas producers down after prices drop to fresh 5-1/2-year lows on concerns of supply glut and lacklustre demand

** Russia's oil output hit a post-Soviet high last year, Iraq's oil exports were at their highest since 1980 in December

** Brent crude drops to a low of $54.02 per barrel, U.S. crude falls to $50.55

** Royal Dutch Shell Plc shares fall 4.5 pct to $63.97, Total SA 5.6 pct to $49.30, BP Plc 5.3 pct to $36.09, Statoil ASA 5.1 pct to $16.54

** Exxon Mobil Corp shares fall 2.3 pct to $90.66, Chevron Corp 3.4 pct to $108.77, Petroleo Brasileiro Petrobras SA 8 pct to $6.20

** Laredo Petroleum Inc shares fall 13 pct to $9.46, Baytex Energy Corp 10 pct to $15.11, Whiting Petroleum Corp 10 pct to $29.85

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