Schlumberger CEO:Stable $80 Oil To Boost Spending On Services
"It's not the spot price of oil that encourages my customers to change their spending. It's the notion that an increase in the price has reached some level of stability," Gould said in a conference call to discuss the company's third-quarter earnings.
Oilfield service company activity has slowed as oil prices plunged from an all-time high above $145 a barrel. Even with the recent increases in oil prices, demand for oilfield services has remained subdued as producers are less confident about the long-term outlook for energy prices.
Gould said that if the price of oil, which was recently trading above $80 a barrel on the New York Mercantile Exchange, stays stable at "these higher levels" for the next six months, Schlumberger customers will change their spending plans.
-By Jason Womack, Dow Jones Newswires; 713-547-9201; jason.womack@dowjones.com
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Publié le 23 octobre 2009 Copyright © 2009 Dowjones
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