NEW YORK (TheStreet) --Shares of oilfield services company Halliburton Co. (HAL) - Get Report are down by 1.07% to $40.08 in early afternoon trading on Tuesday, as the price of oil continues Monday's decline due to concerns regarding the global supply glut.

Crude oil (WTI) is slipping by 0.75% to $43.55 per barrel and Brent crude is falling by 1.74% to $53 per barrel this afternoon, according to the index provided by CNBC.com.

Earlier U.S. oil prices reached their lowest levels in six-years as traders believe Wednesday's weekly U.S. inventory report will show another increase in crude supplies, MarketWatch reports.

OPEC has forecast a decline in U.S. output by the end of the year, however the organization's comments went largely unnoticed as supply increases loom, MarketWatch added.

Insight from TheStreet's Research Team:

Oilprice.com commented on Halliburton in a recent post for RealMoneyPro.com. Here is what Oilprice.com had to say:

It's truly amazing how much fracking is misunderstood, especially to the degree that emotions run so wildly rampant. Take OPEC member Algeria, for example. Two weeks ago, anti-fracking protesters stormed the walls of Halliburton's compound there, burned tires in the roads and had to be restrained with tear gas.

When you compared the public-relations tactics used by the environmentalist movement opposed to fracking to the international oil and gas industry's promotion of it, the latter pales in comparison. The environmentalists worldwide win on the messaging front, hands down.

In Germany, for example, anti-frackers so demonized the entire fossil-fuel industry over renewables that the country went all-in on wind and solar and started shutting down its nuclear plants. The result? Massive increases in energy costs and frequent blackouts. So problematic were the outages that the country had to turn to the most environmentally nasty of all energy sources, lignite, to bail them out. It remains their No. 1 source of power.

Oilprice.com 'Fracking Opposition Carries a Cost' Originally published on 3/17/2015 on RealMoneyPro.com.

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Separately, TheStreet Ratings team rates HALLIBURTON CO as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate HALLIBURTON CO (HAL) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, attractive valuation levels, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow."

You can view the full analysis from the report here: HAL Ratings Report