
Growth in the oilfield service industry seems to be leveling off. After strong and steady growth in 2022 and 2023, the industry posted a more modest 2.4% increase last year and is forecast to shrink by 0.6% this year. Binny Bagga, Vice President Service Market at Rystad Energy Market volatility, heightened geopolitical tensions and cost and capacity challenges set the scene for a mixed outlook for the oilfield services industry this year, with the effects unevenly distributed across segments and regions – all against the backdrop of the continuing…