Energy stocks led U.S. markets higher Wednesday as oil prices surged on hopes that a deal from OPEC may cut back production.
Oil drilling stocks, or those focused on exploration and production, were the best performers in the sector. Oklahoma City-based Devon Energy leaped more than 13.5 percent in morning trade, while Marathon Oil and Transocean climbed more than 10.5 percent, and Diamond Offshore Drilling rose 9 percent.
Shares of Helmerich & Payne were about 5 percent higher.
"At this point, if this (OPEC deal) is true, this is definitely a bullish perspective for all oil stocks, especially upstream," the exploration and production companies, said Luana Siegfried, energy equity research associate at Raymond James.
Reports indicated that OPEC struck a deal in Vienna on Wednesday, though the cartel had yet to make any formal announcement as U.S. markets opened.