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Oasis Petroleum (OAS) Stock Falling as Oil Prices Tumble

NEW YORK (TheStreet) -- Shares of Oasis Petroleum (OAS - Get Report) are down by 2.38% to $6.98 in mid-morning trading on Monday, as some stocks within the energy sector take a hit due to the decline in the price of oil.

The commodity is trading in the red this morning, with prices reaching their lowest levels in over 11 years as the global oversupply continues to increase, Reuters reports.

Crude oil (WTI) is lower by 0.89% to $34.42 per barrel and Brent crude is slipping by 1.03% to $36.50 per barrel, according to the CNBC.com index.

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Oil production is close to hitting record highs and more barrels from Iran, the U.S. and Libya are due to hit the market, Reuters added. This could result in oil prices suffering their largest monthly decline in seven years.

Oasis Petroleum is a Houston-based...


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