Oilfield Service Providers Enjoying Soaring Profits Amid Robust Demand ...Middle East

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Oilfield Service Providers Enjoying Soaring Profits Amid Robust Demand
source : OILPRICE ( Middle East ) () 26
The Big 3 oilfield services (OFS) companies Baker Hughes (NASDAQ:BKR), Halliburton (NYSE:HAL) and Schlumberger (NYSE:SLB) are set to post a combined second-quarter adjusted profit of $2.04 billion, compared with $1.27 billion in the year-ago quarter, thanks to robust demand for their services as well as a surge in offshore oil and gas drilling. "International strength is led by the Middle-East and Latin America and is powered by a multi-year push to grow oil and gas production capacity, near-term OPEC+ cuts notwithstanding," BofA analysts said…

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