Energy Earnings Set To Ease, But Oilfield Services Remain Strong

The energy sector has enjoyed bumper profits in the current year, with Big Oil companies setting records right, left and center. ExxonMobil (NYSE: XOM), Chevron (NYSE: CVX) and Shell (NYSE: SHEL) together brought in $46 billion in earnings in the second quarter, with all three setting new records for quarterly earnings. Overall, high commodity prices have been largely to thank for the fat earnings by oil and gas companies. And now energy experts are saying the party is set to continue in 2023, only that it won’t be nearly as wild. In a recent…