Oilfield Services May Not Recover Until 2023
Rystad Energy Global demand for oilfield services (OFS) is set for a massive 25% yearly drop in 2020. The well servicing sector will be the first to recover, while long-lead segments will pick up much later Global demand for oilfield services (OFS), measured in the total value of exploration and production (E&P) company purchases, is set for a massive 25%