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Fredriksen: Stay away from the oil service sector

John Fredriksen warns against the oil industry, especially after his own drilling giant Seadrill has taken a big hit from the sliding oil price, though he does expect the oil price to rise again, according to Dagens Næringsliv.

Photo: Richard Drew/AP/POLFOTO/arkiv

Norwegian John Fredriksen is now warning against entering the oil industry, where he is already present with several companies, most noticeably through drilling giant Seadrill, which has taken a big hit from the declining oil price and the subsequent changes in the market.

He talks to Norwegian newspaper Dagens Næringsliv about which segments to bet on:

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