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Oilfield Firms See Highest Profit In Nearly A Decade

Oil Price · Tsvetana Paraskova · last updated

The world’s largest oilfield services providers saw last year their highest combined net profits since the shale boom of 2014, driven by a rebound in drilling activity amid soaring oil and gas prices.

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Related Knowledge Center: ENERGY BASICS: petroleum

State of Play

While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.

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