SLB

SLB is seeking to pass increased costs on to customers as supply chains are disrupted by the ongoing Iran war, according to Reuters. The conflict is creating operational and logistical challenges for the oilfield services company. No specific financial figures or customer names were provided in the report.

SLB and Baker Hughes both project increased oil exploration spending, citing supply disruptions stemming from the Iran war as a key driver. The conflict is expected to tighten global oil supply, prompting upstream operators to accelerate capital deployment. Both oilfield services companies stand to benefit from higher activity levels in exploration and production.