Published on 20 Jul 2024 on Insider Monkey · via Yahoo Finance
Dril-Quip, Inc. (DRQ): Why Are Street Analysts Optimistic About This American...
We recently compiled a list of the 14 Best American Energy Stocks To Buy According to Analysts. In this article, we are going to take a look at where Dril-Quip, Inc. (NYSE:DRQ) stands against the other American energy stocks.
Energy, primarily oil, drives the economy. This makes it one of the most important sectors for global and American economic prosperity. This importance has changed the US economic landscape quite a bit over the past couple of years. According to the Energy Information Administration (EIA), 2020 was a historic year for the US energy industry as it was the first time since 1949 that America became a net petroleum exporter. In 2020, the US imported 7.86 million barrels of oil per day, which was 640,000 barrels lower than its 8.50 million barrels per day of exports. Since then, US energy exports have continued to grow, and the oil surplus jumped to a record of 1.26 million barrels per day in 2022.