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Oil Bulls Who Stayed Course Through Free-Fall Reap Rewards

  • Investors confident that recovery will absorb oversupply
  • Improving pipeline capacity in Canada attracts fund managers
Syncrude Canada And Suncor Energy Facilities As Cleveland-Sized Mine Signals The Path For An Oil-Sands Revival
Photographer: Ben Nelms/Bloomberg
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An oil glut coupled with a virus-induced free-fall in global demand sent energy stocks spiraling a year ago. Now, as the world begins to recover from the pandemic, oil bulls who stayed the course are enjoying big returns.

The move is turning some fund managers’ gaze back to Canada, where oil producers were clobbered a year ago, with even blue-chip names such as Suncor Energy Inc. losing two-thirds of their value in a matter of weeks.