Oilfield services are in an upcycle with no end in sight: Schlumberger, doing business as SLB (NYSE: SLB), is in a perfect position to capture value and is leveraging AI to do it. The upcycle is driven by factors including underinvestment before 2020 and technology. In this case, the technology centers on improvements in oilfield equipment coupled with the Lumi platform. Lumi is SLB’s oilfield-specific AI platform.
“AI is the X factor for our industry, and I am confident that SLB will continue to be a leader in this area, enabling us to deliver sustained outperformance for our customers, partners, and shareholders,” stated SLB CEO Olivier Le Peuch.
