New York, Jan 26, 2026, 12:30 EST — Regular session
SLB (NYSE: SLB) climbed roughly 1.4% on Monday, pushing the stock to $49.86 by midday. Shares fluctuated between $49.19 and $50.04 before settling, marking a 70-cent gain from Friday’s $49.15 close.
Venezuela is becoming an active player again in the oil services market. Bloomberg News reported Saturday that U.S. officials have engaged Chevron and other producers about rapidly boosting Venezuela’s crude output. Discussions have included bringing in SLB, Halliburton, and Baker Hughes to fix aging equipment and revitalize older drilling sites. Reuters noted it couldn’t immediately confirm the report. Reuters
Talk is buzzing through Houston’s oil patch. Halliburton CEO Jeff Miller said his phone was “ringing off the hook” with questions about Venezuela, while Rice University’s Francisco Monaldi noted “everyone wants to be on the move,” despite lingering uncertainty over which U.S. sanctions rules will apply. Reuters
SLB, the world’s largest oilfield services firm, said Friday it could quickly boost operations in Venezuela if licensing, safety rules, and compliance are met. The company surpassed Wall Street’s Q4 profit estimates, aided by its ChampionX acquisition, and forecast shareholder returns topping $4 billion in 2026 through dividends and buybacks. However, SLB flagged a high-single-digit drop in sequential revenue for Q1, with adjusted core profit expected to fall 15% to 20%. Reuters
Crude prices extended last week’s gains on Monday, supporting energy stocks. Brent slipped 7 cents to $65.81 a barrel, while U.S. West Texas Intermediate dropped 13 cents to $60.94. This followed a sharp gain of over 2% in the previous session, driven by disruptions from a U.S. winter storm and rising U.S.-Iran tensions. Priyanka Sachdeva, senior market analyst at Phillip Nova, noted that “Winter storm Fern” caused shutdowns in key U.S. oil-producing areas. Reuters
Shares in other oilfield service companies rose as well. Halliburton climbed roughly 0.5%, and Baker Hughes jumped nearly 3.9% by midday.
Oilfield services companies provide the equipment and crews that keep wells running. Their revenue tracks closely with oil producers’ spending, but the pattern can flip fast when politics or crude prices drive firms to ramp up operations.
Venezuela’s path isn’t straightforward. Boosting production depends on U.S. sanctions waivers, contract details, and security on the ground. Initial excitement can quickly fade if approvals stall. SLB also faces a typically weaker first quarter, with its forecast signaling a slower kickoff to 2026.
Traders are eyeing Feb. 1 next, when major OPEC+ players gather to decide if they’ll extend their current hold on boosting output in March. This move will directly impact oil prices and, in turn, the workload for service providers like SLB in the months ahead. Reuters
