What happened After a historic crash came the bounceback. Oil prices sank 24% on Monday, sparking a massive sell-off in oil stocks, but with oil prices beginning to bounce back a day later, oil stocks are on the rise again -- and that includes both oil producers and engineering and consulting firms like KBR (NYSE: KBR) that help them do their business. KBR lost 19% in Monday's market rout, but it got back most of those losses today, closing Tuesday trading up 16.9%. Image source: Getty Images. So what What factors are helping to push KBR stock up? Most obviously, the rebound in oil prices. Brent crude prices jumped nearly 10% today to close at $37.72 a barrel. West Texas Intermediate crude prices did even better, gaining 10.8% to close at $34.49. In addition, and as my fellow Fool and energy specialist Matthew DiLallo pointed out earlier today, a whole series of oil producers announced plans to cut back on their drilling and production activities today. Logically, this should decrease oil supplies and thus help to support oil prices (revenue) even as it reduces the companies' capital spending needs (costs). Now what The logical result of that should therefore be stronger profits for oil companies -- or, at least, fewer weak profits than investors were anticipating yesterday. And this, in turn, should permit oil companies to eventually spend more on engineering services KBR provides. While I'm not 100% certain this news is good enough to justify a 17% one-day spike in KBR's prices, it certainly is good news of a sort -- perhaps even good enough news to persuade some shorts to close out their bets against the company, helping to lift KBR's stock price even further. 10 stocks we like better than KBRWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and KBR wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of December 1, 2019 Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source