Like I said before, the deep-sea drillers won’t likely see the levels they need until well into waves 3 or 5 in oil. Oil’s price has to go much higher for them to move like they need to.
Oil could be in the early stages of wave 3 now OR, it could be delayed through a double zig zag. Too early to say for sure just yet. But you can almost forget about those stocks until oil really moves notably higher. Don’t expect them to respond if oil hasn’t notably moved higher (into much higher prices). It will need to be far higher than wave 1’s peak in WTI crude before we see much out of them.