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Schlumberger has become the biggest oil service industry player yet to abandon frack work in North America, a sign that activity in the U.S. shale patch may never revisit previous highs.

Schlumberger Ltd. posted its weakest sales in 14 years and is cutting one-fifth of its workforce while warning that new waves of COVID-19 could derail the nascent recovery in global energy demand.

Baker Hughes Co. is bracing for a second wave of pandemic-induced lockdowns after the virus crippled economic activity around the world and compounded a historic oil bust.

Halliburton Co. impressed investors by slashing costs more than expected as the fracking behemoth works its way through an historic shale bust. The shares surged more than 8%.

The spread of the coronavirus coupled with an oil-price war between Russia and Saudi Arabia threatens to devastate the oil services industry and its workers.

Chevron Corp. sees a “boom boom boom kind of economy” in West Texas, shrugging off signs of a Permian Basin slowdown showing up in everything from jobs to hotel rooms.

Investors of the world’s biggest oil-servicer providers are so far looking past the most punitive round of U.S. sanctions on Russia.

Five years ago, the thought of $55-a-barrel oil would have given Piotr Galitzine heartburn. Now it’s keeping one of his steel-pipe shops in Houston open 24/7 and fueling a flurry of orders.

Schlumberger Ltd., No. 10 on the Transport Topics Top 100 list of private carriers in North America, agreed to buy Cameron International Corp. for $14.8 billion, allowing the world’s largest oil field-services provider to bundle its offerings and gear more effectively.