The energy sector witnessed a mild slowdown earlier this year after an exceptionally good 2022, thanks to high oil and gas prices fueled by a demand-supply imbalance aggravated by Russia’s invasion of Ukraine. However, the sector looks set for solid recovery amid increased summer travel, constrained supplies due to turbulent geopolitics, and production cuts.
The consequent gains for US energy producers could also translate into tailwinds for fundamentally strong businesses NOW Inc. (DNOW), North American Construction Group Ltd. (NOA), and Geospace Technologies Corporation (GEOS) that serves the energy ecosystem.
