As the fog around the world’s economic outlook thickens due to slowing global economic growth and inflationary pressures, the energy drilling industry has been pegged back by the impending end to its legacy of high-margin contracts.
Considering the industry’s bleak outlook, it could be wise to steer clear of fundamentally weak stocks Valaris Limited (VAL), Transocean Ltd. (RIG), and Diamond Offshore Drilling, Inc. (DO). Let’s dig deeper to find more.
