- Positive oil market trends and declining crude stockpiles are "creating the required foundation" for higher commodity prices, according to Schlumberger CEO Paal Kibsgaard.
- Financial discipline in the U.S. oil patch, a likely extension of OPEC-led production cuts and underinvestment in future crude output further underpin Kibsgaard's outlook.
- The world's largest oilfield services company reported third-quarter profits grew 65 percent and revenues jumped 13 percent year over year.