Energy Services Set to Benefit Once Iran War Ends, Barclays Says

The European energy services sector faces a brighter future once the Middle East conflict de-escalates as a result of work that oil producers need to undertake to resolve disruption, according to Barclays Plc analysts.

Companies such as Technip Energies SA and Viridien SA are set to see increased demand as countries look to replenish their inventories and attend to the damage caused during the conflict, analysts led by Mick Pickup wrote in a note. The volatility in oil and gas prices and disruptions to supply since late February will also prompt more nations to take action on energy security, they said.