The oilfield services industry was hit hard by the 2014 oil price crash after exploration and production companies reduced investments and drilling during the downturn. The ripple effect on the oilfield services business was fewer wells to drill, lower day rates amid competition to obtain drilling contracts, and thousands of layoffs. But the oil price rally at the end of 2017 is now spreading optimism among the biggest oilfield services providers — an upbeat mood they haven’t exhibited in four years. The pick-up in shale activity last year supported some of the oilfield services groups’ revenues and margins, but it still wasn’t enough for an overall optimistic outlook in their Q3 financials. The Q4 earnings releases of the world’s biggest oilfield services groups — Schlumberger and Halliburton — however, showed an upbeat outlook on the recovery of the international markets, for the first time in years. After three difficult […]