Jordan, Knauff & Company
Production cuts are expected to keep global oil production below global oil consumption next year.
The Jordan Knauff & Company (JKC) Valve Stock Index was down 5.7% over the last 12 months, and the broader S&P 500 index was up 1.9%.
The employment index fell for the third straight month to 46.9%, its lowest reading since 2020.
As global energy supplies tighten, total U.S. exports of crude oil and refined petroleum products hit record highs.
Any unplanned supply disruption has the potential to increase oil prices quickly and significantly.
Exploration activity has been up and down this year.
The employment index fell back into contraction territory.
This model is now struggling for several reasons.
Some key inputs used in manufacturing semiconductors come out of Russia and Ukraine.