Thursday, April 17, 2025
Oil prices broadly stable after mixed U.S. data-oil and gas 360

Oil prices broadly stable after mixed U.S. data

Reuters LONDON – Oil prices were broadly stable on Thursday after dipping in and out of positive territory as bulls took their cue from shrinking U.S. oil product stocks and bears looked at rising crude stocks and new coronavirus cases. Brent crude LCOc1 futures were up 19 cents at $40.90 a barrel by 1350 GMT and U.S. West Texas Intermediate

Schlumberger to take up to $1.4 billion charge for restructuring

BIC Oilfield services provider Schlumberger NV expects to book a charge to earnings of up to $1.4 billion for an accelerated restructuring and new job cuts, Chief Executive Officer Olivier Le Peuch said at a energy conference on Tuesday, Reuters reported. Le Peuch said the restructuring will include cuts in the company’s product lines and focus the company’s operations on five key oil