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Delta Air Lines (DAL) Stock Climbs as Crude Prices Fall

NEW YORK (TheStreet) -- Shares of Delta Air Lines (DAL - Get Report) are up by 2.5% to $48.40 in afternoon trading on Monday, as falling crude prices help lift the airline sector today.

Declining crude prices have helped the companies in the sector reap record profits due to falling jet fuel costs.

A stubborn supply glut is responsible for oil prices more than halving over the past year and a half, as OPEC maintains production levels in order to maintain market share amid rising U.S. crude production.

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Crude prices were gaining earlier in the day following the release of OPEC's monthly bulletin, which forecast that U.S. oil output would decline in 2016 for the first time in eight years.

However, crude prices are down after data showed that OPEC's own production rose 109,000 barrels a day in September to 31.57...