NEW YORK ( TheStreet) -- Shares of oil exploration and production company  Cobalt International Energy  (CIE) fell to a 52-week low of $8.32 on Monday as oil prices sank to a five-year low.

The stock closed down 1.78% at $8.84.

Brent crude declined to $67.53 a barrel on Monday, its lowest price since October 2009, according to BBC News. U.S. crude dropped 50 cents to $65.65 a barrel and hit an intraday low of $63.72, the lowest price since July 2009.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Brent crude rallied 3.89% to $72.88 in late afternoon trading.

OPEC decided last week not to cut oil production and to keep its target at 30 million barrels per day, a move that could leave the market oversupplied. The announcement sent oil prices spiraling downward, a trend that continued into Monday.

TheStreet Recommends

More than 8.8 million shares changed hands Monday, compared to the daily average volume of 4,757,760.

Image placeholder title

CIE

data by

YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.