One of the worst performing sectors of the market this year has been the offshore oil and gas drilling sector. A combination of oversupply and falling demand, has pushed the industry into a recessionary period, which is expected to last for around two years. As a result, drilling stocks have been sold off and Seadrill Ltd (NYSE:SDRL), the largest driller by market capitalization, has seen its stock collapse 20% year-to-date.
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