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Oilfield services provider SLB posts lower quarterly profit on Iran war hit

Oilfield services provider SLB posts lower quarterly profit on Iran war hit

April 24 (Reuters) - SLB reported a fall in first-quarter profit on Friday, as disruptions from the war in Iran hit demand for oilfield services in a key oil-producing region. Shares of the company fell 3% before the bell.
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Baker Hughes tops estimates, says oilfield activity hit by Middle East disruptions

Baker Hughes tops estimates, says oilfield activity hit by Middle East disruptions

April 23 (Reuters) - Oilfield services provider Baker Hughes beat Wall Street estimates for first-quarter profit, as strong demand in its industrial and energy technology unit offset drilling weakness caused by disruptions in the Middle East.
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Baker Hughes CEO Predicts Upstream Investment Surge Amid Global Energy Security Concerns

Baker Hughes CEO Predicts Upstream Investment Surge Amid Global Energy Security Concerns

Baker Hughes CEO Predicts Upstream Investment Surge Amid Global Energy Security Concerns
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Morning Bid: Schrödinger’s ceasefire

Morning Bid: Schrödinger’s ceasefire

By Anna Szymanski April 24 (Reuters) - Everything Mike Dolan and the ROI team are excited to read, watch and listen to over the weekend. From the Editor Hello Morning Bid readers!
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US oil executives expect crude output to rise as Iran war continues, survey shows

US oil executives expect crude output to rise as Iran war continues, survey shows

By Georgina McCartney HOUSTON, April 23 (Reuters) - U.S. oil executives expect domestic production to rise as the ongoing war in Iran upends global supplies and pushes crude and fuel prices higher, according to a Dallas Fed survey. 
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Oil prices edge lower with no progress on US-Iran talks, Hormuz shipping still disrupted

Oil prices edge lower with no progress on US-Iran talks, Hormuz shipping still disrupted

By Arathy Somasekhar April 23 (Reuters) - Oil prices were marginally lower on Thursday after big gains in the previous session amid the stalled peace talks between Iran and the United States, and as both nations maintained restrictions on the flow of trade through the Strait of Hormuz.
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Kinder Morgan beats first-quarter profit estimates on strong gas demand

Kinder Morgan beats first-quarter profit estimates on strong gas demand

April 22 (Reuters) - U.S. pipeline operator Kinder Morgan beat Wall Street expectations for first-quarter profit on Wednesday, helped by higher volumes of natural gas transported through its pipelines.
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A look at China's behind-the-scenes role in Iran war diplomacy

A look at China's behind-the-scenes role in Iran war diplomacy

China's behind-the-scenes role in efforts to de-escalate the Iran conflict has been gaining attention
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Explainer-How the Iran war oil and gas supply shock compares with past disruptions

Explainer-How the Iran war oil and gas supply shock compares with past disruptions

By Alex Lawler LONDON, April 22 (Reuters) - The U.S.-Israeli war with Iran and the closure of the Strait of Hormuz have caused the biggest oil supply disruption on record by daily output lost, though at least one earlier shock had a greater cumulative impact, according to Reuters calculations based
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Oilfield service firm Halliburton is discussing commercial terms with customers for Venezuela operations

Oilfield service firm Halliburton is discussing commercial terms with customers for Venezuela operations

By Arathy Somasekhar HOUSTON, April 21 (Reuters) - Oilfield service firm Halliburton on Tuesday said it has been discussing commercial terms with customers for operations in Venezuela after making visits to its existing facilities in the country.
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Iran war conflict could create systemic gas demand destruction, says top sector official

Iran war conflict could create systemic gas demand destruction, says top sector official

By America Hernandez PARIS, April 22 (Reuters) - The natural gas demand destruction currently resulting from the Iran war as governments implement measures to mitigate the crisis risks becoming structural if the conflict persists, the head of the Gas Exporting Countries Forum said on Wednesday.
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Saudi Arabia Increases Crude Exports Amid Middle East Tensions

Saudi Arabia Increases Crude Exports Amid Middle East Tensions

Saudi Arabia's crude oil exports rose to 7.276 million barrels per day in February, marking the highest output since October 2022, according to the Joint Organizations Data Initiative (JODI). This increase comes amid heightened tensions in the Middle East, particularly due to the conflict involving Iran. The rise in production and exports was partly to fill storage abroad, as supply to the market was lower in February. Despite the increased production, Saudi Arabia faces challenges in exporting its crude due to security risks and disruptions around the Strait of Hormuz, which have minimized vessel movements. The Organization of the Petroleum Exporting Countries (OPEC) has lowered its forecast for world oil demand in the second quarter by 500,000 barrels per day, reflecting the impact of the conflict.