Big Oil Set For Blowout Performance, But What Comes Next?

Earnings season is here with us once again, with 21% of S&P 500 companies having reported second-quarter 2022 earnings. According to FactSet data, 68% of S&P 500 companies have reported EPS above Wall Street estimates, while 65% have beat revenue expectations. The Energy sector is expected to be the best performer this earnings season, thanks to high oil and gas prices massively improving the balance sheets of energy companies. The sector is expected to post earnings growth of 265.3% Y/Y, far above the S&P 500's blended earnings…