SLB CEO sees oil & gas prices firming up
Posted: Fri Oct 21, 2016 5:51 pm
Paal Kibsgaard, CEO of the world’s largest oilfield service provider Schlumberger (ticker: SLB), gave his assessment of the global oil and oil services markets during the company’s third quarter conference call.
“The business environment stabilized as expected in the third quarter, confirming that we have indeed reached the bottom the cycle. The current period of oversupply and inventory build is over and market sentiments should soon change, paving the way for an increase in oil prices,” said Kibsgaard.
Read: http://www.oilandgas360.com/indeed-reac ... kibsgaard/
“The business environment stabilized as expected in the third quarter, confirming that we have indeed reached the bottom the cycle. The current period of oversupply and inventory build is over and market sentiments should soon change, paving the way for an increase in oil prices,” said Kibsgaard.
Read: http://www.oilandgas360.com/indeed-reac ... kibsgaard/