Reported 2 days ago
Major U.S. oilfield services are facing significant pricing pressures as shale producers become more efficient and cut back on spending. The number of active rigs has declined to its lowest since late 2021, leading to reduced revenues for companies like Halliburton, which anticipates falling profits due to lower equipment prices. The industry is also seeing a rise in debt and bankruptcies, indicating tough times ahead as projected crude prices remain weak.
Source: YAHOO