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By Roger Nachman

The International Energy Agency (IEA) raised its global crude-oil demand forecast today, moving it up 260,000 barrels a day to 88.8 million barrels a day in 2011.

It also raised its 2010 demand forecast by 130,000 barrels a day to 87.4 million barrels a day.

Despite seeing production increase from countries like Brazil, Canada and Kazakhstan, that demand is continuing to rise as emerging markets continue to use much of the new supplies.

The obvious trade here is going to the major foreign integrated oil companies, like Petrochina (NYSE:PTR), Petrobras (NYSE:PBR) or even BP (NYSE:BP).

Other ways to play this are the drillers or the suppliers. Companies like Transocean (NYSE:RIG) and Diamond Offshore (NYSE:DO) are going to be beneficiaries, as the majority of the worlds oil is now being found in hard to find places, such as underwater, both of these companies specialties.

Suppliers like Schlumberger (NYSE:SLB) and Halliburton (NYSE:HAL) also stand to benefit.

The idea I like the best is as oil prices continue to rise, more oil needs to be found to keep up with demand, so oil sands companies like Suncor (NYSE:SU), Canadian Natural Resources Limited (NYSE:CNQ) and others like that.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: IEA Raises Oil Forecast: How to Trade It