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Schlumberger Profits Rise
Description
Oilfield firm Schlumberger ($SLB@US) is reporting an increase in third-quarter profits as the need for oilfield services increases. The company is pointing to a rebound in crude oil prices as a factor in the change with oil prices rising 64% since the beginning of the year, reaching $85 per barrel. While Schlumberger shares were down 1.11% in early trading, they are outgaining rivals like Baker Hughes ($BKR@US)—which fell 4.26%—and Halliburton ($HAL@US), which fell 4.20% early Friday.
Keywords & Tags
#earnings
#finance
#inflation
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#earnings season
#commodities
#economic recovery
#services
#oil
#natural gas
#beat estimates
#profit
#economic growth
#demand
#gas
#energy
#Schlumberger
#supply
#import
#export
#Fuel
#analyst estimates
#rivals
#profits
#annual report
#quarterly results
#economic goods
#resources
#basic goods
#energy exports
#quarterly report
#Oilfield Service
#Quarterly Profits
#per barrel
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