Halliburton posts third-straight quarterly loss on shale slump

Oilfield services giant Halliburton Co (HAL.N) posted its third straight quarterly loss on Monday as it took a $2.1 billion impairment charge amid a slump in oil prices and the resulting collapse in drilling by North American customers.

Demand for drilling services and oilfield equipment offered by Halliburton and rivals Schlumberger (SLB.N) and Baker Hughes (BKR.N) sank after oil prices collapsed in March. U.S. crude futures were trading around $40 per barrel on Monday, at the bottom end of the range of what most producers need to turn a profit.

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