Top oilfield services provider Schlumberger NV on Tuesday said oil supply and demand would recover “sooner than previously anticipated,” because of lower investment in new production.

“The potential exists for a demand-led supercycle,” CEO Olivier Le Peuch said at a J.P. Morgan energy conference. The company on Tuesday also announced a commitment to net-zero greenhouse gas emissions by 2050.
Source: Reuters (Reporting by Liz Hampton)