Oil companies delivered the market’s best shareholder returns last year, but Wall Street is still wary.
The biggest Western oil companies, Exxon Mobil Corp. , Chevron Corp. and Shell PLC, together cleared a record of more than $132 billion in and handed investors $78 billion via share buybacks and dividends, about 50% more than the last time oil topped $100 a barrel in 2014.
Time to smarten the hell up