SLB Stock Wavers After Earnings. How the Iran War Disrupted Its Recovery.

While SLB claimed in January that its struggles in key regions were over, Friday’s earnings report signaled that the oilfield servcies provider is still facing headwinds. CEO Olivier Le Peuch said SLB had “a challenging start to the year” becuase of the Iran war, with a pronounced impact on its well construction and reservoir performance divisions. “SLB demobilized operations in a number of countries in response to customer actions to safeguard personnel and facilities,” Le Peuch said.