"Saudi Directive Sparks $1 Billion Plunge in Oilfield Service Giant's Value"
TL;DR Summary
Shares of major US oilfield service contractors, including Weatherford International, plummeted as Saudi Aramco's decision to halt a significant oil production capacity expansion plan raised concerns about future oil demand, resulting in over $1 billion being wiped off Weatherford's market capitalization with a 16.19% drop in its shares.
Topics:business#businessfinance#oil-production#oilfield-service-contractors#saudi-aramco#stock-market#weatherford-international
- Saudi move wipes $1 billion off Weatherford value as oilfield service players shares plunge Upstream Online
- Saudi Arabia's Directive Sends Oilfield Services Giant on a Slide The Wall Street Journal
- Saudi Aramco Abruptly Drops Plans to Expand Oil Production The New York Times
- SLB Reaffirms 2024 Financial Guidance Yahoo Finance
- The World Is Transitioning to American Oil From Saudi Crude Bloomberg
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