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.

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