Schlumberger sees oil market rebalancing sooner than expected – CEO

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)

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