The perfect storm hit the energy sector in 2020: a demand and supply shock that could only be triggered by a pandemic-like event, forcing entire countries to shut down. Oil services company Schumberger (NYSE: SLB) weathered this period incredibly well, and with an impending stimulus-led economic boom on the horizon, it is positioned to exceed expectations. Despite a shift toward green energy, oil remains key to satisfying the world’s power demands.
Schlumberger provides the necessary components and technologies (like software and drilling rigs, for example) to oil companies to get their resources out of the ground. It’s almost twice the size of its nearest competitor, with a larger geographical footprint — it operates across 120 countries! — providing a dominant market position.