Crude oil futures posted a five-year low in overnight trading to $63.72 per barrel, MarketWatch reports.
Earlier today Brent Crude rose over $71 per barrel, as it appeared to be rebounding from Friday's drop, Reuters reports.
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On Friday OPEC announced it had decided not to cut oil production, sending prices lower and stocks tumbling.
Despite today's rise in oil prices the chief oil analyst at Energy Aspects told Reuters that "the market is still very much in panic mode."
Separately, TheStreet Ratings team rates KODIAK OIL & GAS CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate KODIAK OIL & GAS CORP (KOG) a BUY. This is driven by some important positives, 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 robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, attractive valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."