ShippingWatch

DNB: Two year rut ahead for oil service companies

The oil service companies are in the midst of a downturn so severe that it will continue the next two years, notes DNB Markets' oil service division on the basis of the 33 companies covered by its analysts.

Photo: Stena

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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

HMM doubled revenue in Q1

South Korean container line HMM follows the trend of European competitors, which have already presented their first-quarter financials. Revenue doubled in a significant surge.

Further reading

Related articles

Latest news

See all jobs