economy

Barclays says it's the best buying opportunity in 20 years for these oil stocks

Oil service providers, such as Halliburton, should gain as commodity prices appear poised to stay high, with or without the Iran war, the bank says.

Barclays says it's the best buying opportunity in 20 years for these oil stocks

TL;DR

  • Barclays has upgraded the U.S. energy service and technology sector to positive from neutral.
  • The bank believes the Middle East events will result in structurally higher oil prices and a multi-year upstream spending cycle.
  • Oil service providers such as Halliburton, Patterson-UTI Energy, ProPetro Holding, Transocean, Noble Corporation, and Seadrill have been upgraded to overweight.
  • Offshore oil-focused services companies are expected to be the biggest winners in the new environment.
  • Barclays forecasts an increase in active deepwater rigs by the end of 2027, which will support offshore stocks.

Continue lendo o artigo original