Brent crude fell to $66.77, its lowest price since October 2009, amid concerns of continued oversupply.
Oil prices fell late last week after European Central Bank president Mario Draghi announced the bank would leave its rates unchanged, according to Business Insider. During the press conference, Draghi called the falling price of oil "unambiguously positive," which may have put pressure on oil prices.
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OPEC recently announced that it would maintain its oil production target of 30 million barrels a day, which helped bring down oil prices.
Separately, TheStreet Ratings team rates GOODRICH PETROLEUM CORP as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate GOODRICH PETROLEUM CORP (GDP) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."