Wells Fargo Says These Eight Energy Stocks Can Weather a Recession

The year 2022 has been kind to oil companies, largely because price surges tied to Russia’s war on Ukraine.

The S&P Oil & Gas Exploration & Production Select Industry Index has climbed 16% year to date, while the S&P 500 has dropped 20%.

But over the last month, the SPDR S&P Oil & Gas Exploration & Production ETF  (XOP) – Get SPDR Oil & Gas Exploration and Production ETF Report has underperformed the S&P 500 by 27 percentage points. The ETF has plunged 29%, while the S&P 500 has lost only 2%.

That shift has come “as investors have focused on the likelihood of a recession,” Wells Fargo analysts wrote in a commentary. So where do oil producers stand?

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