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)

Copyright 2016 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Oil and Gas job opportunity for "Big 4" Trained Auditors
Expertise: Accounting
Location: Houston, TX
 
Project Manager
Expertise: Project Management
Location: Houston, TX
 
Project Accountant
Expertise: Accounting
Location: Nashville, TN
 
search for more jobs

Brent Crude Oil : $53.89/BBL 1.67%
Light Crude Oil : $50.84/BBL 2.14%
Natural Gas : $3.7/MMBtu 2.77%
Updated in last 24 hours