Energy Stock Carnage Sets Up ‘Rinse and Repeat’ Start to 2020

Energy equity carnage was alive and well throughout 2019, and the start of 2020 could bring more of the same for the beaten-up sector, though some analysts are turning positive.

“We are in an environment where the playbook to kick off the year reads like a rinse and repeat from past years,” CIBC Capital Markets’ energy team said in a note to clients. The team added that “it’s also one that doesn’t require anyone to be a hero or to take on more heartburn than is necessary.”