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Increasing oil and gas extraction activities over the past few years have led to a rise in demand for oil & gas products and services globally. In addition, the need for technological advancements in drilling and the adoption of new techniques are major factors driving the growth of the oil & gas equipment industry. The global oilfield equipment market is expected to reach $144.43 billion in 2027, growing at a 2.8% CAGR. Both SLB and BKR are expected to continue benefiting from the industry tailwinds.
SLB has gained 23.5% in price over the past nine months, while BKR has returned 11.4% over this period. Also, SLB’s 29.7% gains year-to-date compare with BKR’s 14.8% returns. In terms of their past year’s performance, BKR is the winner with 57.6% gains versus SLB’s 48.4%.
