Rystad: Oilfield services demand to drop by 25 per cent due to Covid-19 downturn

The Covid-19-caused downturn is set to cause a 25 per cent yearly drop in global demand for oilfield services (OFS), a Rystad Energy analysis shows.

Rystad said on Thursday that OFS spending was expected at $481 billion this year and take the first step towards recovery in 2021 when it is forecast to tick up by just about 2 per cent.

Continue reading