Recent news developments continue to reflect fundamental change under way in the global petroleum industry with the upstream outlook still a bright spot.(Brief Article)

Recent news developments continue to reflect fundamental change under way in the global petroleum industry, with the upstream outlook still a bright spot.

In spite of recent U.S. oil and gas price slippage, causing "momentum sellers" to shed E&P and offshore drilling company stocks as commodity prices declined, St. Louis-based A.G. Edwards & Sons says supply/demand dynamics are strong enough to provide "incentives to drill and should provide above-average returns on the investments being made in the search for oil and gas reserves."

Edwards analysts Joseph Culp and Shannon Nome also cite numerous potential benefits for the oil service/supply …