Oil service providers may not sound like a profitable opportunity to you, but with crude oil prices soaring past $86 a barrel, this little niche of the energy sector is producing capital gains hand over fist!
The reason for their success is simple, really. Big energy companies are looking for more efficient and profitable ways to extract more oil from mature wells, and establish new wells. And that's exactly what oil field providers do.
And this trend will continue as the tightening is due to the one-two punch of rising demand out of Asia and shrinking supply from broadening environmental restrictions and declining production from mature wells.
A report by the U.S. National Petroleum Council (NPC) said that while global energy consumption will increase as much as 60% by 2030, and the International Energy Agency (IEA) predicts that an oil supply "crunch" could arrive as early as 2012. That's less than 5 years away.