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OFS - Sector mostly mum on changes in wake of crude & stock crash - March 2020
Failed supply cut talks between OPEC and Russia, the coronavirus disruptions, recession fears and a Wall Street selloff combined to send both WTI and Brent below $33/bbl in the second week of March—a level not seen since 1Q16. Weatherford International retracted its 2020 guidance on March 16, making it one of the first oilfield services companies to make dramatic changes after the crude price collapse (PG.14). Russia refused to go along with OPEC’s plan......
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