Six oil companies reported second-quarter results so far — with profits off 53 percent to 95 percent compared to last year, a result of weakened demand crushing margins.

But oil prices spiked 40 percent in the second quarter. Why?

Because “silly pseudo-intellectual catchphrases” like green shoots, says oil analyst Stephen Schork, made investors forget about the weak condition.

“Does that make sense?” Schork wrote in a recent report. “Of course it doesn’t. And, if you are bearish you better be concerned.”