Subsea 7: The Trend Is Your Friend And So Are The Fundamentals
With OPEC’s decision not to increase production crude oil prices keep rising. At the time of writing, Brent is touching $70 per barrel. Higher prices are going to really benefit oil and gas companies exposed to offshore production. That’s why I like Subsea 7 S.A. (OTCPK:SUBCY).
The supply-demand imbalance is pushing crude higher as fundamentals would suggest. According to S&P Global Platts Saudi Arabia’s fiscal break-even price is $75 per barrel of Brent. So that’s where The Global Investor thinks…
