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Transocean (RIG) Stock Pops as Oil Prices Gain

NEW YORK (TheStreet) -- Shares of Transocean (RIG) were climbing 6.31% to $10.52 mid-Monday afternoon as oil prices advanced to five-week highs.

Members of OPEC have planned to meet during the International Energy Forum in Algeria at the end of September, fueling speculation that the producers may look to support prices amid a global oversupply, CNBC reports.

Russia, an OPEC member, told a Saudi newspaper this morning that it hopes oil-producing nations will make moves to stabilize prices.

Also, preliminary...


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