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Whiting Petroleum (WLL) Stock Closes Down as Oil Prices Slump on Oversupply Concerns

NEW YORK (TheStreet) -- Whiting Petroleum Corp. (WLL - Get Report) shares closed Monday's trading session down 4.19% to $17.39 along with falling oil prices due to persisting concerns about growing oil supplies.

Crude oil (WTI) is retreating 1.79% to $43.80 per barrel and Brent crude is tumbling 1.27% to $47.38 per barrel, according to the CNBC.com index.

Even though analysts see domestic output declining, ongoing high production in other countries will keep the market saturated, the Wall Street Journal said.

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Additionally, China's move to cut interest rates is leading investors to be even more bearish on oil's futures, adding to concerns about the slowing economy.

Based in Denver, CO, Whiting Petroleum is an independent oil and gas company that acquires, explores, develops, and produces crude oil, natural gas liquids, and natural gas in the Rocky Mountains and Permian Basin regions of the U.S.

Separately, TheStreet Ratings team rates WHITING PETROLEUM CORP as a Sell with a ratings score of...


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