Last week, the Organization of Petroleum Exporting Countries (OPEC) reached a deal to cut oil production by 1.2 million barrels per day in an effort to boost global prices. In light of this significant development, the author of today’s article suggests that the best way for investors to play a resultant bump in oil prices are oilfield services stocks, which “have been badly beaten down after two years of lower oil prices and less drilling activity but should generate gains in an era of higher commodity prices, which will boost spending for their equipment and services.” For the five specific plays the author highlights, CLICK HERE.
5 Plays To Consider On OPEC’s Production Cut
Tags:boost global pricesboost spendinghigher commodity pricesInvestinvest in oilInvestmentinvestorsless drilling activitylower oil pricesoiloil productionoilfield service stocksOPECOrganization of Petroleum Exporting Countries