OPINION: The oil majors are still under the cosh from environmental campaigners over carbon emissions and are taking the blame in some quarters for “fuel poverty” but investors appear to have rediscovered their affections for the sector.

ExxonMobil, Shell and BP have all seen their shares rise by over 50% year on year as Brent crude pushes towards $100 per barrel, economies reopen after Covid lockdowns and fear of war in Ukraine grips the West.