Liam Denning, Columnist

Bad Week for Energy Stocks? Wait Till Next Year

Investor trust has dried up, and it won’t improve without a lot of consolidation.

August 2, 2019 at 1:30 PM UTC

Liam Denning is a Bloomberg Opinion columnist covering energy. A former banker, he edited the Wall Street Journal’s Heard on the Street column and wrote the Financial Times’s Lex column.

Frackers’ capital well is running dry.
Photographer: Bloomberg/Bloomberg

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One word to describe this week in energy stocks is “painful.” Another is prologue.

Energy stocks were not particularly popular coming into this week anyway. To one degree or another, they were losing the confidence of investors that they will manage their capital responsibly and profitably.