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Southwestern Energy (SWN) Stock Falls as Oil Prices Decrease

NEW YORK (TheStreet) -- Shares of Southwestern Energy (SWN - Get Report) were falling 5.5% to $12.10 on Monday as oil prices were falling.

WTI crude oil for November delivery was down 1.67% to $48.80 a barrel Monday morning, and Brent crude oil for November delivery was down 1.27% to $51.98 a barrel.

Oil prices were falling after the Organization of Petroleum Exporting Countries said its members pumped the most crude oil in three years in September, according to Bloomberg. OPEC said its member countries pumped a total of 31.57 million barrels of oil a day in the month of September, the most in a single month since 2012.

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OPEC Secretary General Abdalla Salem El-Badri said that oil market may be "balanced" in 2016 as demand picks up and other countries produce less oil.

"OPEC pumping at the highest level in three years is a very bearish element," Again Capital partner John Kilduff told Bloomberg. "The decline in U.S. production is a drop in the bucket compared with the OPEC increase."

Southwestern Energy will announce its third quarter financial results after the market closes on October 22. Analysts expect the oil company to report a loss of 1 cent a share and revenue of $805.44 million...


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