Liam Denning, Columnist

Faith-Based Investing Needed for Oil Frackers

There’s a reason E&P stocks aren’t following crude prices higher.

March 27, 2019 at 3:42 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.

Beset by doubting Thomases.
Photographer: Spencer Platt/Getty Images North America

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As the first quarter draws to a close, the oil and gas sector is suffering from a lack of belief:

While both exploration and production and refining stocks have greeted the apparent windfall from the commodity-market gods with a shrug, the similarities end there.