The commodity is trading in the red today as the deputy crown prince of Saudi Arabia said the country is not going to freeze oil production unless Iran and other major producers agree to do the same, Reuters reports.
Also adding pressure to oil is the stronger dollar which was boosted by the better than expected U.S. jobs report.
Crude oil (WTI) is falling by 4.07% to $36.78 per barrel and Brent crude is declining by 4.36% to $38.57 per barrel.
The U.S. created 215,000 jobs in March, above the 203,000 analysts surveyed by MarketWatch anticipated.
WPX Energy is a Tulsa, OK-based independent natural gas and oil exploration and production company.
Separately, TheStreet Ratings has set a "sell" rating and a score of D- on WPX Energy stock. This is driven by several weaknesses, which TheStreet Ratings believes 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 it covers.
The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally high debt management risk and generally disappointing historical performance in the stock itself.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: WPX