NEW YORK: It might not be the most well-known company in the world but oil services group Schlumberger is a good indicator of where the oil market is heading.
Schlumberger helps oil companies find and drill for oil and they. The group’s chief executive, Paal Kibsgaard, warned that a recovery in the oil and gas industry has been delayed and his clients will cut their spending into 2016.
He made the comments as the firm released some awful third quarter results.
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