Crude oil (WTI) was sliding 3.78% to $44.57 per barrel and Brent crude was down 3.53% to $45.97 per barrel this afternoon.
Oil prices were under pressure today as Saudi Arabia does not expect an output agreement at talks next week among top exporters, Bloomberg reports.
Additionally, Saudi Arabia offered to roll back its output from record levels if rival producer Iran reduced its own production, sources cited by Bloomberg said. But the talks between the two producers did not result in an agreement.
OPEC will hold informal discussions next week in Algiers, which non-OPEC Russia will also attend.
Denbury Resources is a Plano, TX-based oil and natural gas company.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D- on the stock.
The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself and deteriorating net income.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: DNR