Oil and Gas Industry Ends - 2023 With a Weak Comeback

Oil and Gas Industry Ends 2023 With a Weak Comeback and a Negative Outlook Tom Sanzillo, Director of Financial Analysis January 2024 Oil and Gas Industry Ends 2023 With a Weak Comeback and a Negative Outlook 2 Key Findings The oil and gas industry comeback ends near the bottom of the stock market. [...] Oil and Gas Industry Ends 2023 With a Weak Comeback and a Negative Outlook 3 Executive Summary At the end of 2022 and into the first quarter of 2023,1 great news for the oil and gas industry was reported with enthusiasm. [...] Against the backdrop of an otherwise decade of poor stock performance, the Ukraine-driven price spike actually spoke to the speculative nature of the oil and gas sector today and its negative outlook, rather than the blue-chip performance of the past. [...] Oil and Gas Industry Ends 2023 With a Weak Comeback and a Negative Outlook 5 Figure 2: S&P Sector Performance, 2022: Oil and Gas Industry Leads the Market The price of oil almost tells us the full story of the industry. [...] Oil and Gas Industry Ends 2023 With a Weak Comeback and a Negative Outlook Key Findings The oil and gas industry comeback ends near the bottom of the stock market.