Drillers Leading The Oil Sector Higher Following OPEC Decision

Energy stocks and ETFs traded up Wednesday afternoon, following the OPEC’s decision to limit its oil output to 32.5 million barrels per day (bpd), down from a current production of 33.24 million bpd. During the next formal meeting, scheduled for November, the group will set production levels for each of the member countries, sources said.

Related Link: Oil Stocks Gushing Higher On News Of OPEC Output Limit Deal

Among energy stocks, no other industry spiked like drillers. Some of the top gainers of the space were:

• Diamond Offshore Drilling Inc DO up 7 percent to $17.16
• Pacific Drilling SA PACD up 6.6 percent to $3.68
• Transocean LTD RIG up 7.4 percent to $10.11
• Rowan Companies PLC RDC up 9 percent to $14.57
• Parker Drilling Company PKD up 10 percent to $2.15
• Nabors Industries Ltd. NBR up 10 percent to $11.22
• Pioneer Energy Services Corp PES up 10.5 percent to $3.59
• Patterson-UTI Energy, Inc. PTEN up 8 percent to $20.38
• Precision Drilling Corp (USA) PDS up 11 percent to $4.04
• Seadrill Ltd SDRL up 19 percent to $2.30
• ENSCO PLC ESV up 12.5 percent to $8.17
• Transocean Partners LLC RIGP up 8 percent to $11.78
• Atwood Oceanics, Inc. ATW up 14 percent to $8.23