Schlumberger Forecasts Oil Recovery

On Friday in a post-earnings call, Schlumberger announced that they see early signs of recovery in drilling operations for most of the world. Chief Executive, Paal Kibsgaard, said "The only place where we don't see any signs of recovery at this stage is in Asia." Schlumberger Ltd is the world’s largest oil field service provider. Kibsgaard said they expect solid growth in the Middle East and Russia in 2017 and see some increased activity in Latin America, Europe and Africa.