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Oasis Petroleum (OAS) Stock Gains as Oil Prices Climb

NEW YORK (TheStreet) -- Oasis Petroleum (OAS - Get Report) stock is up 4.73% to $5.54 in early afternoon trading on Monday as oil prices rise and support energy stocks.

Oil prices are rising after Baker Hughes (BHI) data showed that the number of U.S. oil rigs operating declined by 13 rigs to 400 rigs last week, the Wall Street Journal reports. The global oversupply of oil has weighed on prices over the last year.

"We could finally see U.S. oil production losses starting to accelerate in the coming months, as broad-based cost cutting from oil companies is set to impact productivity," Matt Smith...