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Oilfield Services’ Pricing Power is Rising  | Rigzone

Things are looking up for oilfield services companies.

After several years of gloom, oilfield service companies are now able to raise prices for their products and services, according to energy research firm Rystad Energy.

“Oil and gas investments are on the rise, and so too is the pricing power of service companies,” said Audun Martinsen, Rystad’s head of oilfield research. “After losing pricing power in 2015 and 2016, oilfield service companies have since regained some of the lost ground, thanks first and foremost to industry consolidation among players that has concentrated the market over the past couple of years.”

Martinsen said pricing power in the service industry will be strengthened as orders are expected to rise across the supply chain while capacity adjustments intend to avoid oversupply in 2019 and 2020.

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Oilfield Services’ Pricing Power is Rising  | Rigzone.

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