Oversupply and weak demand continue to grip volatile oil markets but several analysts have found a pocket of relative safety which could potentially offer returns of 35 percent over the next twelve months.
Rather than fretting about whether the oil price has yet to find a bottom, several investment banks have started turning bullish on certain oil majors. These producers have suffered with a 70 percent plunge in the price of the commodity since mid-June 2014. But, many majors have been busy slashing costs and it appears France's Total has come out on top.
"We think Total is less at risk than most of the rest of the sector," Jason Gammel, an equities analyst at Jefferies, told CNBC Wednesday.
"(Patrick) Pouyanne (CEO of Total) has done a very good job in managing the company. Right now what we're focused on is strong balance sheets that can make it another 18 months without having to make extremely difficult decisions like cutting the dividend."