Are evil energy (oil) stocks already priced too ambitiously for a recession?

It is an old wisdom that during a recession cyclical equities in general and energy stocks in special are suffering pretty much. When the economy slows down, the supply and demand imbalance pushes energy prices down, too. Stocks of these “commodity businesses” come under pressure in unison. But is it the same now? Or could we even be in for a surprise to the upside?

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