Oil companies' upturn expected to spread slowly to drilling

Oil companies are headed for recovery thanks to rising oil prices, but their appetite for new investments is restrained. As a result, the troubled drilling sector must exercise patience as it waits for activity levels to improve, two stock analysts tell ShippingWatch.

Photo: Carsten Rehder/AP/Ritzau Scanpix

In spite of increasing demand for oil and gas, which is boosting oil companies' revenue, drilling outfits are unlikely to pull away from the long-standing stagnation until sometime in this autumn.

In an interview with ShippingWatch, two stock market analysts conclude that oil companies will be hesitant to invest in new production as oil and gas market forecasts remain uncertain.

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