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I have been a bear on oil services names for a while. Brent oil prices have been volatile. They hovered around $70 earlier last month, but now are in the low $60 range. Oil prices have been impacted by certain supply cuts by OPEC. At some point, prices could be driven by global demand; that sounds foreboding. It could make earnings volatile for Baker Hughes (BHGE) and other oil services names.
North America Growth Has Ground To A Halt
In the first half of 2018, revenue from North America was rising