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Big oil companies are back in favour

Producers such as Total, Shell and BP are getting "buy" ratings as they cut spending, reduce output to ride out the downturn

Oil's 16-month dive has been brutal, wiping out US$397 billion from the value of the 23 companies in the Stoxx Europe 600 Oil & Gas index and driving down earnings.


ENERGY companies are finally starting to come back into favour.

After enduring the longest oil-price collapse in more than a decade, crashing profits and an investor exodus, Europe's biggest producers are regaining fans as analysts bet earnings bottomed out last quarter and...

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