Stocks are generally higher, but some big oil names are among the standout winners. That might seem odd given that oil is slipping a bit.
Specifically, oil service companies are on fire.
The culprit, as noted earlier, is a report form BofA/Merrill announcing that these companies would be the big winner in the upheaval in Saudi Arabia. The gist is that as the Saudi King seeks to mollify the rioters, he'll have to crank up oil production big time to pay for all of the new social benefits.
That means more business and more pricing power for the likes of Slumberger, Weatherford, Baker Hughes, and Weatherford.
Click here for more on the report >
Join the conversation about this story »
See Also:
- What The Tsunami In Japan And The Attack In Libya Mean For The Global Energy Market
- Oil Is Having Another Monster
- $105
Jenny McCarthy Zooey Deschanel Tara Reid Coco Lee Katy Perry
No comments:
Post a Comment