Oilfield services providers are confident that a prolonged upcycle will keep them very busy in coming years as the U.S. shale patch returns to growth and international drilling activity struggles to compensate for barrels likely to be lost from Russia. As service providers reported first-quarter earnings last month, their top executives noted that the current tightness in oil and gas markets, in North America and internationally, is setting up “fantastic” conditions for the industry for years to come. Pricing power is back in the hands…
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