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A new growth cycle has finally commenced, said Schlumberger CEO Olivier Le Peuch.
(Bloomberg) Schlumberger is the latest oil-service giant to declare the worst is behind them in international markets after last year’s historic crude price collapse, forecasting strong demand in oilfield services into next year.
The world’s biggest oilfield contractor joined smaller rivals Halliburton Co. and Baker Hughes Co. this week in calling for expansion in overseas work and a more muted recovery in North America through the rest of 2021. The three service providers also beat analysts’ earnings expectations for the first three months of the year.