Breaking News
‘;
Commodities19 hours ago (Oct 21, 2017 07:25AM ET)
© Reuters. Oil prices poised to rise as market trends improve, Schlumberger boss says
- Positive trends taking shape in the oil market are setting the foundation for higher crude prices, according to Paal Kibsgaard, Chairman and CEO of Schlumberger (NYSE:), the world’s largest publicly traded oilfield services firm.
- Kibsgaard says the prospect for rising oil prices has been bolstered by falling crude stockpiles around the world, financial discipline in the U.S. oil patch, a likely extension of OPEC-led production cuts and underinvestment in future crude output – all of which raise the odds that the market will swing to undersupply in the medium term.
- But SLB’s own outlook seems a bit shakier, as North America is the only region currently providing high and sustained growth for the company, which may bode well for main rival Halliburton (NYSE:), whose results are due on Monday morning; HAL has long had higher exposure to the North American market relative to SLB, and the difference has widened further this year.
- ETFs: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , USOI, , ERYY, ,
- Now read: Paradigm Shift – Energy Stocks Are On The Cusp Of A Multi-Year Bull Trend
Original article
Related Articles
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Source: Investing.com
