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Reuters BusinessOct 21, 2019
Oil prices edge up on U.S.-China trade optimism, but demand concerns cap
Oil prices steadied a little on Tuesday, supported by signs of progress in talks on resolving the U.S.-China trade dispute, but gains were contained by lingering anxiety a slowdown in the global economy could hurt crude demand.

MarketWatch MarketPulseOct 18, 2019
Schlumberger stock rises after swinging to large loss, but adjusted profit and revenue beats expectations
Shares of Schlumberger Ltd. rallied 1.3% in premarket trading Friday, after the oil services company reported a large third-quarter net loss, but an adjusted profit and revenue that beat expectations. The net loss was $11.97 billion, or $8.22 a share, after income of $787 million, or 46 cents a share, in the year-earlier period. Excluding non-recurring items, such as a $12.7 billion charge related to goodwill, intangible assets and fixed assets as a result of "market conditions, adjusted earnings per share came to 43 cents, above the FactSet consensus of 40 cents. Revenue was edged up to $8.54 billion from $8.50 billion, just above the FactSet consensus of $8.50 billion, as an 11% drop in North America revenue was offset by 8% growth in international revenue. "This quarter's results reflected a macro environment of slowing production growth rate in North America land as operators maintained capital discipline, reducing drilling and frac activity," said Chief Executive Olivier Le Peuch. Although international revenue continues to be underpinned by international investment levels, Le Peuch said "market uncertainty" is weighing on the future oil demand outlook " in a climate where trade concerns are seen as challenging global economic growth." The stock has tumbled 17.8% over the past three months, while the VanEck Vectors Oil Services ETF has dropped 19.0% and the S&P 500 has ticked up 0.1%.

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