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Stock impact report

Why Oil Service Stocks Are Getting Hammered Today [The Motley Fool]

Core Laboratories Inc. (CLB) 
Last core laboratories inc. earnings: 4/22 05:05 pm Check Earnings Report
US:NYSE Investor Relations: corelab.com/investors
Company Research Source: The Motley Fool
Why Oil Service Stocks Are Getting Hammered Today It's another brutal day in the oil market. Oil prices tumbled again today as they continue to bounce around following the collapse of an oil market support agreement between Russia and OPEC. WTI, the U.S. benchmark, fell nearly 5% by 3:15 p.m. EST on Wednesday, pressured in part by OPEC's forecast that oil demand won't grow this year because of the COVID-19 outbreak. That slump in oil prices weighed on most oil stocks today , including oil-field service companies. Several tumbled more than 10%, led by Core Labs ( NYSE:CLB ) , TechnipFMC ( NYSE:FTI ) , Nabors Industries ( NYSE:NBR ) , NexTier Oilfield Solutions (NYSE: NEX), and Patterson-UTI Energy ( NASDAQ:PTEN ) . Oil prices have crashed below $30 a barrel over the past week, forcing energy companies to take drastic action so that they can stay afloat during this turbulent time. Several producers have reduced their activity levels while many more a Show less Read more
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