Whiting Oil and Gas stock

NEW YORK (TheStreet) - Shares of Whiting Petroleum (WLL - Get Report ) were gaining 10.2% to $19.40 Monday as oil prices spiked higher after losses earlier in the day, continuing the commodity's rally from last week.

WTI crude oil for October delivery was up 5.95% to $47.91 a barrel Monday afternoon, and Brent crude oil for October delivery was up 5.33% to $52.72 a barrel.

Crude oil prices were rising due to data showing slowing U.S. oil production, according to . U.S. oil production reached about 9.6 million barrels a day in April and fell by more than 300, 000 bpd over the next two months, the U.S. Energy Information Administration said on Monday.

The EIA also lowered its production estimates for the first five months of 2015 by 40, 000 to 130, 000 barrels a day every month, according to .

Comments from the Organization of the Petroleum Exporting Countries that it is willing to talk to other oil producers about recent drops in oil prices also helped bring prices up Monday, according to Reuters.

Insight from TheStreet's Research Team:

Whiting Petroleum 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:

Whiting Petroleum ( (WLL - Get Report ); 123 shares; 1.27%; Inflection Point; $51 price target): The company explores for oil and gas in the Permian Basin, Williston Basin and Green River Basin. The stock rebounded 11% this week, even though Whiting was downgraded on Monday, at both Susquehanna and Bank of America/Merrill Lynch. We believe energy names have bottomed out for the time being and that the company can continue to post above-average growth.

- David Peltier, "Stocks Under $10 Weekly Roundup, " originally published 8/31/15 on Stocks Under $10

• Shell Oil and Gas
• Oil and Gas stocks
• Northern Oil and Gas stock
• Samson Oil and Gas stock
• Zion Oil and Gas stock