Baker Hughes posts second-quarter loss amid oil price volatility
The oil producer expects North American drilling and completions spending to be down 50% compared to 2019
22 July 2020 - 19:01
Bengaluru/Denver — Baker Hughes posted its second consecutive quarterly loss on Wednesday and said it will continue reining in costs to prepare for a longer period of oil price volatility.
Oil producers stopped drilling new wells and drastically cut their budgets following a collapse in crude oil prices this year that clipped demand for services offered by Baker Hughes and rivals Schlumberger and Halliburton...
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