NEW YORK (TheStreet) -- Shares of SandRidge Energy (SD) fell 4.55% to $1.53 in late morning trading Monday after bearish commentary on oil prices by the Organization of the Petroleum Exporting Countries (OPEC).
OPEC said in a draft report that oil prices would remain below $100 per barrel until at least 2025 according to the Wall Street Journal. The organization's most optimistic scenario predicts that oil would sell at approximately $76 a barrel a decade from now, the report states.
On the more pessimistic side, OPEC, which represents 12 nations that produce oil, cautioned that crude oil could cost as little as $45 a barrel in 2025.
"$100 is not in any of the scenarios," a delegate remarked at an OPEC presentation last week in Vienna, according to the Journal.
Insight from TheStreet's Research TeamSandRidge Energy is a core holding of David Peltier's Stocks Under $10 Portfolio. During the most recent weekly roundup, this is what Dave had to say about the stock:
SandRidge Energy (SD; $1.60; 1,600 shares; 1.38%; Inflection Point; $8 price target): The company explores for natural gas and oil in the U.S., primarily onshore. The shares lost 16% this week, as management posted mixed quarterly results on Wednesday. The company is slashing capital costs and has hedged the remainder of its expected production for 2015.
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