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Schlumberger: Oil industry in deepest financial crisis

Wednesday, March 23, 2016 - 05:50

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Schlumberger Ltd expects oil producers will be in no rush to get rigs back online once crude rallies.

Houston

Schlumberger Ltd expects oil producers will be in no rush to get rigs back online once crude rallies. The fragile financial state of oil explorers means there will be a noticeable lag from when oil prices climb and when exploration and production (E&P) companies invest again,

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