Have energy stocks bottomed earlier than we expected?

The Energy Sector has started to come alive over the recent week as it becomes another pocket of the index which feels like its attempting to address the last 6-months underperformance. Through 2021 we’ve seen the crude oil price rally substantially but the energy sector has drifted lower, admittedly not helped by many fund managers migrating away from fossil fuels. However we feel its gone too far and the valuation vacuum is likely to suck up the energy stocks, simply put with crude oil knocking on $US70/barrel the risk / reward is attractive for quality names.