NEW YORK, Jan 5, 2026, 09:52 EST
- SLB rose about 8% in early trading, outpacing most of the U.S. market.
- Oilfield-services peers Halliburton and Baker Hughes also climbed after weekend Venezuela developments.
- Investors are now looking to SLB’s Jan. 23 results for signals on 2026 spending and pricing.
SLB shares jumped about 8% in early New York trading on Monday, tracking a sharp rally across oilfield-services stocks. The shares were up $3.25 at $43.45 at 9:40 a.m. ET, while Halliburton gained about 7.5% and Baker Hughes rose about 4.7%.
The move followed President Donald Trump’s comments that the United States would take control of Venezuela after the arrest of President Nicolas Maduro, stoking bets that U.S. companies may eventually help rebuild the country’s oil industry. Reuters reported that oilfield-services firms, whose technology would be needed to lift output, were among the day’s early winners. 1
Why it matters now: SLB’s business rises and falls with drilling and well work, which depend on how much oil and gas producers are willing to spend. A shift in expectations for Venezuela—home to the world’s largest oil reserves—can move sentiment quickly across the energy supply chain, even if actual investment takes time. 2
Investors are also looking ahead to SLB’s Jan. 23 quarterly results, when the company is expected to discuss demand and pricing and give guidance, or management’s outlook, for the year ahead. SLB said it will issue its results at 7:00 a.m. U.S. Eastern time and host a conference call at 9:30 a.m. 3
Oil prices themselves were steady, underscoring that the stock move was driven more by expectations than by a sudden jump in crude. Brent crude futures were up 0.6% at $61.12 a barrel and U.S. West Texas Intermediate rose 0.7% to $57.73, Reuters reported, with traders citing ample global supply. 4
U.S. sanctions and a blockade have already squeezed Venezuela’s exports, leaving barrels stuck in storage and on tankers, according to Reuters. Exports fell to around 500,000 barrels per day in December and have been paralysed since Jan. 1, the report said. 5
Venezuela’s state-run oil company PDVSA has begun cutting crude production because it is running out of storage capacity, Reuters reported, citing sources. PDVSA asked several joint ventures to curb output as shipments stalled under the U.S. embargo. 6
For SLB, any sustained investment cycle would likely show up first in international work rather than in a single day’s tape. In late December, SLB said Saudi Aramco awarded it a five-year contract tied to unconventional gas development that includes “stimulation” services—hydraulic fracturing and related work used to boost production from tight reservoirs. 7
The rally came as Wall Street opened higher more broadly, with energy stocks rising after the Venezuela strike alongside a rebound in technology names, Reuters reported. The S&P 500 and Nasdaq both opened higher on Monday. 8
Still, the path from political shock to new drilling budgets is rarely straight. “This is an enormous undertaking,” said Helima Croft, head of global commodity strategy and MENA research at RBC Capital Markets, pointing to the decades-long decline of Venezuela’s oil sector and uncertainty around any transition. 2
