XES: Oil Volatility, Supply Glut, And Valuation Limit Potential Short-Term Drivers

2025-12-21 23:30:36 ET

State Street® SPDR® S&P® Oil & Gas Equipment & Services ETF ( XES ) enters the final stretch of 2025 as an underperformer compared to the broader market, facing headwinds from declining global demand and a supply surplus, while the tech sector has led the market forward for the most part of the year. There are positives coming from the sector, such as the pivot to high-margin technology projects such as Baker Hughes’ ( BKR ) Cordant and industry consolidation, but is it enough to make this ETF a compelling investment opportunity?...

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