SLB Profit Drops Amid Middle East Conflict Disruptions
The oilfield services provider reported a first-quarter net income of 752 million dollars as regional instability and infrastructure attacks reduced drilling demand. Revenue from the Middle East and Asia fell 10 percent during the period.
Xurve View
Insights:
Xurve View
The global oilfield services leader SLB LTD reported a decline in first-quarter earnings on Friday, primarily attributed to operational disruptions caused by the ongoing conflict involving Iran. The news sent the company's shares down 3% in pre-market trading as investors reacted to the geopolitical headwinds affecting the industry's largest market.
