1405 ET - An escalating trade war and OPEC+'s decision to increase production more than expected has created significant weakness in oil prices. As a result, "prior company messaging has become irrelevant, and we expect any guidance to be abandoned waiting for more clarity," TD Cowen says in a research note. Looking forward, the analysts expect longer-cycle, backlog-driven businesses such as Baker Hughes and TechnipFMC to be more insulated from the downturn than shorter-cycle businesses, including Schlumberger, Halliburton, Helmerich & Payne and Liberty Energy. (connor.hart@wsj.com)
(END) Dow Jones Newswires
April 07, 2025 14:05 ET (18:05 GMT)
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