Impending third-quarter results are set to see a wide divergence in the fortunes of oil and gas operators, but services players may be in for a boost in orders, according to analysts.

Overall, the recovery in oil prices will see aggregate sector organic free cash flow inflect positively. However, this only masks divergent macro and company trends, according to analysts at Redburn.

Top pick

“Equinor is our top pick into the forthcoming results season, with ExxonMobil least favoured,” Redburn said in a note.