European oil firms

The oil price has risen 70% in the last 12 months, from 45$/ barrel for Brent in June 2017 to around 80$ in May 2018

Oil Sector: What Goes Up, Must Come Down

For any investor who believes that $70/barrel is more or less the right price, then the European oil firms are currently fairly priced. Alphavalue recently upped their earnings forecasts to include $70/barrel as a new normality. This leaves the sector with an upside potential of +6% on a 6-month horizon.