The effect on prices was only natural, given the size and importance of China as an oil importer, as well as an importer of a lot of other things that the U.S. exports to the Asian powerhouse. With the trade war between the two heating up, market players are not feeling a lot of optimism, which has hit oil prices, and with them, the outlook for the oilfield service industry—and it wasn’t particularly bright to begin with. This was supposed to prompt a similar consolidation drive in oilfield services and the prompt will just get stronger with the tariff fallout and the OPEC tactic switch that played a rather instrumental part in last week’s oil price drop.
Author: Irina Slav
Published at: 2025-04-07 23:00:00
Still want to read the full version? Full article
