Those stocks combine for 31.41% of the fund's roster. That makes OIH vulnerable when those names decline, but the fund offers rally potential if those stocks rebound. Deutsche Bank analyst Chris Snyder "sees a rebound in U.S. shale exploration in the second half of 2020, which should benefit the big oil-services companies, including Halliburton (HAL) and Schlumberger (SLB). Companies that help offshore producers drill more efficiently should also profit," reports Avi Salzman for Barron's. A Major Crude Exporter As U.S. oil output has soared to record heights, the country has become a major crude exporter. There are benefits to that scenario, but it also exposes the domestic energy patch to trade volatility, such as the tensions seen between the U.S. and China earlier this year. "Halliburton is the dominant player in U.S. shale services, an area that has been hurt because producers are spending less on new projects. Its stock is down 23% this year after falling 46% in 2018.