Energy sector activity decreased.

Source: https://www.forexlive.com/centralbank/highlights-of-the-feds-beige-book-overall-economic-activity-increases-slightly-since-may-20230712/

Energy sector earnings in 2023 are likely to decline year-over-year, mainly because of how strong 2022 was, but other factors could weigh on earnings as well.

Source: https://www.etftrends.com/energy-infrastructure-channel/energy-earnings-likely-to-fall-in-2023-does-it-matter/

Energy sector stocks have also been strong outperformers, as has the largest sector by market cap, Technology.

Source: https://www.forbes.com/sites/seanhanlon-1/2023/05/05/resilient-earnings-are-a-positive-sign/

On the other hand, the stock's performance was much stronger in 2023 compared to the U.S. Energy sector (), which demonstrated a negative year-to-date dynamic.

Source: https://seekingalpha.com/article/4657819-energy-transfer-fears-priced-in?source=feed_all_articles

Significantly, this metric is 28% below the average for the Energy sector and considerably lower than in recent years.

Source: https://seekingalpha.com/article/4636877-cosan-long-term-payoffs-from-efficient-capital-allocation?source=feed_all_articles