Here are oil plays Citi says are most likely to rally on spike in crude
In an analyst note, Citi identified the companies it says will have the biggest reaction to the rise in crude oil prices CL.1, +8.37% following the attacks in Saudi Arabia over the weekend. Small- and mid-cap oil explorers and producers that are heavily shorted or where positioning is negative include Extraction Oil & Gas XOG, -1.22%, Whiting Petroleum Corp. WLL, +0.67%, Callon Petroleum Co CPE, +3.44% and Carrizo Oil & Gas CRZO, +3.51%.
18%, Solaris Oilfield Infrastructure SOI, +1.76% and Patterson-UTI Energy PTEN, +1.45%. Oasis Petroleum OAS, +0.00% is a stock with sensitivity to financial leverage along with Whiting Petroleum and Carrizo Oil & Gas, and heavily shorted offshore drillers Transocean RIG, +1.42%, Valaris VAL, -4.51%, Diamond Offshore Drilling DO, +0.00% and Noble Corp NE, +0.
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