Oil market investment needed soon to balance market: Schlumberger CEO
The exterior of a Schlumberger Corporation building is pictured in West Houston January 16, 2015. REUTERS/Richard Carson
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
DUBAI (Reuters) - Investment in exploration and production will have to start increasing soon to help balance the global oil market, Schlumberger CEO Paal Kibsgaard told a conference in Dubai on Monday.
The medium- to long-term oil environment will remain subject to periods of volatility and the industry may see fewer and larger service operators in the future, the oilfield services company boss said.
(Reporting by Maha El Dahan and Hadeel al Sayegh; writing by Tom Arnold; editing by Jason Neely)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mexico's Congress approves budget, set to go into law
- Dollar edges up vs yen, higher yields support euro and sterling
- Cyprus peace talks move to Switzerland to pursue trade-offs, says U.N.
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!