SaxoTV
Schlumberger remains under pressure: Garnry
429 views
Peter Garnry, Saxo Bank’s head of equity strategy, says he plans to sell shares in the world’s largest oilfield services company, Schlumberger.
He argues that Schlumberger remains in a weak position with a rebound in oil prices unlikely after Opec and non-Opec nations failed to agree a production freeze.
Peter says that Schlumberger’s earnings are expected to decline by 63% y/y in Q1 and revenues are set to drop by 35%.