Major oil service companies, including Schlumberger, ConocoPhilips and Halliburton, are in the midst of a crisis, and this crisis will continue for at least the next two years, according to DNB Markets, whose oil service sector analysts cover 33 of the world's largest oil service companies.
The bank's team of analysts estimates that things are looking so bleak for the companies that none of the 33 companies are given a 'buy' recommendation by the analysts. Instead, 26 of the companies' shares are rated 'sell' and seven labeled 'hold,' reports Norwegian business daily Dagens Næringsliv.
Get full access for you and your coworkers.Start a free company trial today
Already a member? Log in.