SLB Seen Well-Positioned for Middle East Recovery -- Market Talk

1314 ET - SLB looks like it will be in a solid spot when the Middle East recovers after a resolution to the conflict in the region, according to Melius Research in a note. The oil services company is in close contact with the countries affected by the conflict, as well as national oil companies, as it prepares for a rebound, analysts James West and Sanskriti Reddy say, pointing to the company's forecast for its Middle East 4Q revenue to reach about 95% of pre-conflict levels. SLB also has a number of other drivers, they say. "The key swing factor into year end and 2027 remains the pace of Middle East remobilization, though the combination of deepwater, digital and data center momentum supports the setup even under a slower regional recovery," they say. (kelly.cloonan@wsj.com)

(END) Dow Jones Newswires

July 24, 2026 13:14 ET (17:14 GMT)