The energy industry is in the early innings of a multiyear upcycle, according to Scott Gruber, research analyst, oil services, for New York-based Sanford C. Bernstein & Co. LLC.According to the firm's recent survey of 251 commodity investors, oily E&Ps have the "greatest upside of any energy sub-segment." The number of respondents who believe that 2010 oil prices will be above $80 per barrel rose to 42%, up from 22% in the past quarter's survey.
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