Shares of Transocean LTD ( RIG ) traded lower on Monday following an OPEC+ decision to extend deep oil output cuts until 2025.

What To Know: The Organization of the Petroleum Exporting Countries and allies led by Russia, known as OPEC+, aims to address concerns over tepid demand growth, high interest rates and rising U.S. production.

According to Reuters, Brent crude oil prices have remained below budgetary requirements for many OPEC+ members, trading near $80 per barrel. The extension includes maintaining current cuts of 5.86 million barrels per day (bpd), with 3.66 million bpd set to expire at the end of 2024 now extended for an additional year.

Voluntary cuts of 2.2 million bpd are extended until September 2024, with a gradual phasing out planned from October 2024 to September 2025.

“We are waiting for interest rates to come down and a better trajectory when it comes to economic growth … not pockets of growth here and there,” said Saudi Energy Minister Prince Abdulaziz bin Salman.

See Also: Best Oil Stocks To Buy Right Now

How To Buy RIG Stock

By now you're likely curious about how to participate in the market for Transocean ( RIG ) – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. In the case of Transocean ( RIG ), which is trading at $5.71 as of publishing time, $100 would buy you 17.51 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

RIG Price Action: Transocean ( RIG ) shares closed Monday down 7.9% at $5.73 according to Benzinga Pro.