"Saudi Directive Sparks $1 Billion Plunge in Oilfield Service Giant's Value"
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.