NOV Inc. ranked among top 10 oilfield services stocks, reporting solid Q2 2024 earnings, amid 11% year-over-year global upstream investment increase to $580bn.

Oilfield services company NOV Inc. (NYSE:NOV) is ranked as one of the top 10 best oilfield services stocks to buy now, having reported solid earnings for Q2 2024. The global upstream industry is expected to maintain its hydrocarbon investment at $580bn in 2024, an 11% year-over-year increase. Oil prices averaged $77 a barrel in 2023, and the oilfield services sector is projected to grow at a CAGR of 5.83% from $119bn by 2024, providing potential for investors to watch. Newpark Resources Inc (NYSE: NR) and Natural Gas Services Group Inc (NYSE: NGS) are also considered key players in the oilfield services sector, with solid performance in Q2 and expected growth in the industry.

August 24, 2024
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