SLB sees gradual recovery in Middle East business amid Iran war

SLB: SLB is the world’s largest oilfield services company, delivering technology, integrated project management, and digital solutions across the global energy sector. In its most recent quarterly update, SLB reported a gradual recovery in Middle East operations amid disruptions tied to the Iran conflict, with sequential improvements across key markets including Iraq, Kuwait, Oman, Saudi Arabia, Qatar, and the United Arab Emirates. The company continues to emphasize production optimization and digital workflows as operators focus on long-term asset performance. Industry Outlook: SLB and peers like Halliburton anticipate multi-year demand growth in oilfield services driven by Middle East infrastructure rebuilding and international diversification. Operational Focus: Operators are increasingly prioritizing production optimization, enhanced recovery from existing fields, and adoption of digital and AI-enabled workflows. Regional Recovery: Activity in the Middle East has shown sequential improvements across multiple countries despite late-quarter disruptions from the ongoing Iran-related conflict.