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Tuesday, 28 June 2016

Oil services outlook firmer than stocks suggest

Undervalued services

Halliburton, for one, has lost a third of its value in six months. Yet capital spending by big energy groups, which becomes revenue for services firms, is set to rise to a record $600 bln in 2012 - even if oil prices decline. It’s hard to justify the sector’s low multiples.

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