WTI crude oil for February delivery was falling 2.8% to $55.52 a barrel Wednesday morning, while Brent crude oil for February delivery was falling 3% to $59.82 a barrel.
Last month, OPEC announced that it would not lower its target production rate for 2015 despite recent increases in global supply due to increase in U.S. shale production, which helped bring oil prices lower.
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Last week, the International Energy Association lowered its outlook for 2015 global oil demand growth by 230 million barrels of oil a day to 900 million barrels of oil a day.
TheStreet Ratings team rates LINN ENERGY LLC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate LINN ENERGY LLC (LINE) 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 generally high debt management risk, disappointing return on equity, poor profit margins and generally disappointing historical performance in the stock itself."