There are clear signs the global oil market is balanced, which would support higher oil prices and investments if sustained, the head of Schlumberger said. “The reduction in global oil inventories in the third quarter is clearly showing that the oil market is now in balance, which is reflected in the upward movement in oil prices over the past month,” Schlumberger Chairman and CEO Paal Kibsgaard said in a statement Friday. Schlumberger is the world’s largest oilfield services company and was among those that encountered headwinds last year when the price of crude oil dropped below $30 per barrel. For the three months ending Sept. 30, the company posted revenue of $7.9 million, up 6 percent from the second quarter and 13 percent year-over-year. Schlumberger’s first quarter […]