Some oil-related stocks that could benefit in the current environment include NOW Inc. (DNOW), Murphy USA (MUSA) and Dril-Quip, Inc. (DRQ).

Oil Prices Ignore Surprise Supply Build to Reclaim $70 Level

Some oil-related stocks that could benefit in the current environment include NOW Inc. (DNOW), Murphy USA (MUSA) and Dril-Quip (DRQ).

Oil Prices Jump as U.S. Supplies Post a Big Weekly Decline

Handsome upstream activities are leading to improvement in demand for drilling & production equipment, thereby brightening the outlook for the Zacks Oil and Gas- Mechanical and Equipment industry. Some of the frontrunners in the industry are NOW (DNOW), Dril-Quip (DRQ) and Oil States (OIS).

3 Oil & Gas Equipment Stocks to Gain From the Promising Industry

HOUSTON, TX / ACCESSWIRE / May 3, 2023 / Dril-Quip, Inc. (NYSE:DRQ), (the "Company" or "Dril-Quip") announced today that it will release its first quarter 2023 earnings results on May 8, 2023, after the close of the U.S. financial markets. The Company will also be participating in a fireside chat conversation with David Smith of Pickering Energy Partners on May 9, 2023, at 11:30 a.m.

Dril-Quip, Inc. Schedules First Quarter 2023 Earnings Release and Conference Call

ABNB, SIGA and DRQ made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on April 14, 2023.

Best Momentum Stocks to Buy for April 14th

ABNB, SIGA, DRQ, SWRAY and HZNP have been added to the Zacks Rank #1 (Strong Buy) List on April 14, 2023.

New Strong Buy Stocks for April 14th

Dril-Quip, Inc., together with its subsidiaries, designs, manufactures, sells, and services engineered drilling and production equipment for use in deepwater, harsh environment, and severe service applications worldwide. The company's principal products include subsea and surface wellheads, subsea and surface production trees, mudline hanger systems, specialty connectors and associated pipes, drilling and production riser systems, liner hangers, wellhead connectors, diverters, and safety valves, as well as downhole tools. It also provides technical advisory services, and rework and reconditioning services, as well as rental and purchase of running tools for use in the installation and retrieval of its products; and downhole tools comprise of liner hangers, production packers, safety valves, and specialty downhole tools that are used to hang-off and seal casing into a previously installed casing string in the well bore. The company's products are used to explore for oil and gas from offshore drilling rigs, such as floating rigs and jack-up rigs; and for drilling and production of oil and gas wells on offshore platforms, tension leg platforms, and Spars, as well as moored vessels, such as floating production, storage, and offloading monohull moored vessels. It sells its products directly through its sales personnel, independent sales agents, and representatives to integrated, independent, and foreign national oil and gas companies, as well as drilling contractors, and engineering and construction companies. The company was founded in 1981 and is headquartered in Houston, Texas.