NEW YORK (TheStreet) -- Shares of Oasis Petroleum (OAS) - Get Report are down 2.1% to $13.07 in afternoon trading today as oil prices decline.

Both benchmarks are down, with West Texas Intermediate lower by 1.03% to $43.43 at 12:16 p.m. in New York. Brent fell 1.63% to $53.06.

Oil prices are declining on the rising U.S. crude stocks, the rise in production in Libya, and the possible deal with oil producer Iran that could ease sanctions and boost its exports, according to Reuters.

"We expect WTI to remain under pressure as inventories swell further as the seasonal maintenance period begins. We expect this to remain the case in the short term," ANZ bank told Reuters.

Oasis Petroleum is a Houston-based exploration and production company focused on the acquisition and development of unconventional oil and natural gas resources in the North Dakota and Montana regions of the Williston Basin.

Insight from TheStreet's Research Team:

Oasis Petroleum stock is down almost 70% from a year ago, as falling oil prices continue to weigh on the industry. With some oil stocks trading near 52-week lows, some investors think it's time to get bullish. Realmoney.com contributor Daniel Dicker recently wrote about one dynamic in this low-price environment.

Here's a snippet of what he had to say:

There's a bit of a conundrum going on in oil these days, as money continues to pour into energy companies and their bonds, mostly through fully subscribed secondaries. Valuations are still very high compared to $50 oil, and cash-rich companies like Exxon Mobil (XOM) - Get Report are chomping at the bit to buy core assets from the walking dead.

All this money makes for a very bullish picture on oil, right? Contrast that with a U.S. oil market that's about to reach full saturation, without a drop of storage left in a few weeks, and you've got two colliding ideas.

Looks to me like more pain is ahead for those who are getting too enthusiastic too early -- I think oil is headed back down again first.

Major names in oil are still being valued by oil prices in the far back of the curve. While we know quite well that oil prices are unsustainable below $75 forever, that doesn't mean the weeding-out of weak players does not have to happen first before a recovery can begin.

For now ... keep your powder dry and don't chase the oil trade -- yet.

-Daniel Dicker, 'Eyeing the Oil Industry's Walking Dead' originally published 3/5/2015 on Realmoney.com.

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Separately, TheStreet Ratings team rates OASIS PETROLEUM INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate OASIS PETROLEUM INC (OAS) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, notable return on equity and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and a generally disappointing performance in the stock itself." You can view the full analysis from the report here: OAS Ratings Report