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US oilfield stocks fall as Saudi Arabia orders Aramco to ditch plan to expand oil production

January 30, 2024 10:24 AM EST

US oilfield stocks fell Tuesday after oil powerhouse Saudi Aramco said it would lower its maximum capacity target.

Oilfield services provider Schlumberger (NYSE: SLB) shares have tumbled over 9%, while Halliburton (NYSE: HAL) and Baker Hughes Company... More