Investors swayed by prices rather than improved operations Energy sector is worst performer in MSCI World index this year Oil companies have spent three years slashing spending and firing workers to protect profits, only to find their hard work blown away as prices entered another bear market. The MSCI World Energy Sector Index is heading for a second consecutive quarter of declines, mirroring the drop in crude. The 90 companies that make up the index, including giants like Exxon Mobil Corp. and Royal Dutch Shell Plc , have together lost $115 billion in market value since the start of April, according to data compiled by Bloomberg. “The biggest companies are improving a lot operationally,” said Iain Armstrong, an analyst at Brewin Dolphin Ltd., which owns shares in major energy producers. “But the oil price will continue to drive the shares” and the outlook isn’t great. Energy companies started the […]