Schoeller-Bleckmann Says Oil Patch Bottom Reached, Sees Upturn



Reuters

VIENNA, Oct 21 (Reuters) - The chief executive of Schoeller-Bleckmann Oilfield Equipment said on Friday it was fair to say that a bottom has been reached in the oil industry, pointing to rising rig counts.

"I assume that with a balance between supply and demand (next year), 2018/19 could be very exciting years for us," Gerald Grohmann told an investor conference, adding he did not expect big orders from Iran next year despite rising output there.

(Reporting by Shadia Nasralla; Editing by Michael Shields)



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