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Oil’s Hired Hands See Outlook Brighten as War Fractures Markets

  • Supercycle of 14 years ago witnessed oil topping $145 a barrel
  • Schlumberger books strongest first-quarter marings since 2015
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Oil Analyst Sen Sees Rising Risk as SPR Impact Fades
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The global oil industry is on pace to repeat or even surpass the heady days of 2008 when crude ascended to dizzying heights and drilling profits soared, according to the world’s biggest oilfield contractor.

In the sector’s most bullish forecast yet, Schlumberger told investors and analysts Friday that the widespread disarray set off by Russia’s invasion of Ukraine is creating growth opportunities last seen during the so-called supercycle of 14 years ago.