Oilfield-Contractor Profits Seen Falling on Drilling Slowdown
A pumpjack in Martin County, Texas.
Photographer: Justin Hamel/BloombergThe world’s biggest oilfield-service companies are expected to post the steepest profit declines in roughly four years as shale drilling slows.
SLB is seen reporting a 14% drop in per-share profit when it kicks off the sector’s earnings season on Friday, which would be the biggest falloff since early 2021.