There has been a surge in the value of offshore support vessel (OSV) stocks following Opec’s promise to cut oil production. Tidewater, the world’s largest OSV operator, has seen daily rises of up to 12% in the past week, encouraging analysts to increase their targets for future equity price growth.
Meanwhile, BP chief executive Bob Dudley told the World Energy Congress in Istanbul that crude should remain between $55 and $70 per barrel for the rest of the decade.
