JPMorgan analyst report identifies European oil companies poised to benefit from sustained $100 oil prices.
Analyst estimates $30 oil price increase outweighs $6-10/bbl cash flow impact from Middle East disruptions.
Shell, TotalEnergies, Eni and Galp highlighted as top picks due to price leverage and production profiles.
Report warns of potential windfall tax risks and notes varying Middle East exposure among European oil majors.