Source: OilOnline
I have been bearish cyclical names like Oil States International (OIS) for several years. The did not believe the economy was as strong as policymakers were suggesting. The coronavirus likely exposed that weakness. Brent oil is still sub-$35, despite supply cuts from Russia and Saudi Arabia. This may still be too low for oil drillers to open the spigots. In Q1 2020, Oil States reported revenue of $219.69 million, down 8% sequentially. However, the company's business prospects could improve.
North America Is Facing Headwinds
OPEC supply cuts have practically put a