Schlumberger sees oil market rebalancing sooner than expected - CEO

"The potential exists for a demand-led supercycle," CEO Olivier Le Peuch said

  
The exterior of a Schlumberger Corporation building is pictured in West Houston January 16, 2015.

The exterior of a Schlumberger Corporation building is pictured in West Houston January 16, 2015.

REUTERS/Richard Carson

Top oilfield services provider Schlumberger NV SLB.N on Tuesday said oil supply and demand would recover "sooner than previously anticipated," because of lower investment in new production.

"The potential exists for a demand-led supercycle," CEO Olivier Le Peuch said at a J.P. Morgan energy conference. The company on Tuesday also announced a commitment to net-zero greenhouse gas emissions by 2050.

(Reporting by Liz Hampton) ((Liz.Hampton@thomsonreuters.com; +1 469-691-7668;))


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