Some analysts have recently turned bullish on the energy sector, arguing that the sector is attractively valued and that the group has grown more efficient after cutting costs in response to the plunge in crude oil prices in previous years, so they are now in a better position to bolster revenue even at lower prices.

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“When the rig count does decline, there will be an additional overhang related to the lag between drilling a well and bringing it on line. Nothing is ever certain in the world of oil, but a crude awakening for energy investors could very well be near at hand,” according to Morningstar.

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