A stealth boom in oil and gas spending will boost oilfield services stocks, Morgan Stanley says

Oil and gas drillers are on the verge of a worldwide spending spree not seen since 2013, teeing up a potential windfall for oilfield services companies, Morgan Stanley forecasts.

The bank believes a global upswell in capital spending on new fossil fuel production, one that will last for several years and is largely underappreciated, is just over the horizon. In Morgan Stanley’s view, 2020 will be a year of synchronised growth in capital expenditures, and oilfield service firms will be one of the biggest beneficiaries.

 

Union Jack Oil plc (LON:UJO) is an onshore oil and gas exploration company with a focus on drilling, development and investment opportunities in the United Kingdom hydrocarbon sector listed on the London Stock Exchange AIM market.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Union Jack Oil

More articles like this

Union Jack Oil

Oil prices near one-month highs

Energy stocks are set to open higher, as firm gains in equity futures more than offset a slight reversal of yesterday’s strong oil price gains.  Equity indices sitting just off all-time highs are set to re-test those levels

Union Jack Oil

Crude oil demand is bouncing back

As a market strategist and trader, I’ve always told anyone who would listen that one of my favorite things about commodities like crude oil is the pure supply and demand dynamics of the market. At the end of

Union Jack Oil

EIA increasingly optimistic about oil demand growth

A stronger global economy this year is set to accelerate oil demand growth to 5.5 million barrels per day (bpd), the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook for April this week, raising its demand growth

Union Jack Oil

Oil prices up as OPEC+ expected to keep output unchanged

Energy stocks are poised for a mixed to lower start, supported by mild strength in the underlying commodities while the broader equity markets are lower amid weakness in bank stocks that were caught in the downdraft of Friday’s

Union Jack Oil

Crude oil futures close higher

Crude oil futures closed higher Tuesday in daytime trading on the Shanghai International Energy Exchange. The most active crude oil contract for May 2021 delivery was up 4.7 yuan (about 72 U.S. cents) to close at 390.8 yuan