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One that should see a broad recovery is Baker Hughes (NYSE: BHI), the oilfield services company that's joining forces with General Electric's (NYSE: GE) energy business. As drilling increases in shale plays and offshore the companies will provide the services explorers need, giving them upside in oil without direct exposure to the commodity itself. If prices rise far enough, we could see a big recovery in offshore drilling stocks as well. Seadrill (NYSE: SDRL) and Transocean (NYSE: RIG) are two of the biggest offshore rig owners and have been hammered by a lack of demand from low oil prices. But even a recovery to $70 or $80 per barrel could bring a surge in offshore rig demand. Both companies are still high risk, but if the supply and demand dynamic I laid out above means higher prices, both companies should benefit. The companies that provide equipment and services to oil explorers will ride a broad wave of higher oil prices that already appears to be on the way without the risk of a single field or well's production. And that's why Baker Hughes, Seadrill, and Transocean are a great way to ride oil higher as OPEC takes control of the market. 10 stocks we like better thanWal-Mart When investing geniuses David and TomGardner have a stock tip, it can pay to listen.
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