Energy markets are entering 2026 with lingering near-term uncertainty but a more constructive long-term outlook for the oil sector, according to a recent note from VanEck.
Global demand has remained resilient, and with new supply growth constrained, capital is increasingly being directed toward maintaining and optimizing existing production and infrastructure. That dynamic is creating opportunities across both oilfield services and refining, the firm said.
Against this backdrop, VanEck highlights five companies positioned to benefit from a potential oil sector revival. See what the ETF provider had to say below:
Schlumberger (SLB)
The world’s largest oilfield services company is well positioned for a shift toward more complex international and offshore projects. Its leadership in technology, digital solutions, and reservoir expertise supports producers focused on maximizing output from existing fields.
Halliburton (HAL)
Halliburton’s strength in North American shale often makes it an early beneficiary of rising activity levels. A focus on efficiency and disciplined execution helps protect margins, even in a capital-constrained environment.
Baker Hughes (BKR)
Baker Hughes offers diversified exposure across oilfield services and energy technology. Its presence in LNG infrastructure and industrial equipment complements its core oil business and provides flexibility as the global energy mix evolves.
Phillips 66 (PSX)
Phillips 66 benefits from tight U.S. refining capacity and steady demand for transportation fuels. Its diversified downstream and midstream portfolio has supported consistent cash flow across oil price cycles.
Valero (VLO)
Valero’s Gulf Coast refining network can process a wide range of crude grades, including discounted heavy and sour barrels. That flexibility supports profitability amid limited global refining capacity.