Diamond, Noble could surge 50% amid industry rebound, Barron’s says

Offshore oil drillers were about the worst place to be in 2020 as oil prices were falling and demand for crude seemed to be seeping away. Now, the stocks may be the ones to own as investors realize that oil will be needed to make the world go around for decades, Andrew Bary writes in this week’s edition of Barron’s. Offshore drillers might be best positioned to take advantage of long-term demand for oil. The offshore industry is a concentrated niche led by Noble (NE), Transocean (RIG), Valaris (VAL), Seadrill (SDRL), and Diamond Offshore Drilling (DO), and their rigs are increasingly in demand, the author notes.