WTI crude prices fell to $66.50 per barrel on Thursday after a brief rebound earlier this week.
One factor weighing down oil prices today is the remarks of European Central Bank president Mario Draghi, who spoke Thursday after the ECB's most recent monetary policy decision to keep rates unchanged, according to Business Insider.
Draghi said in his remarks that declining oil prices are "unambiguously positive."
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 for much of this week.
Separately, TheStreet Ratings team rates SANDRIDGE ENERGY INC as a "hold" with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate SANDRIDGE ENERGY INC (SD) 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 expanding profit margins and notable return on equity. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, weak operating cash flow and generally higher debt management risk."