5 Oil Services ETF Surge on Crude Outlook, Schlumberger Revenue Beat | Page 2 of 2 | ETF Trends

The energy markets also strengthened on signals that Washington and Beijing were moving closer to a resolution to the trade spate after China offered to increase U.S. imports by $1 trillion per year.

Furthermore, the oil services sector gained momentum after Schlumberger (NYSE: SLB), a bellwether for the oilfield services industry, revealed quarterly revenue that topped expectations and forecasted single-digit growth in international markets for 2019, Reuters reports.

SLB shares jumped 7.4% Friday.

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