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Among the top 50 oilfield service firms, downsizing is estimated to land at a headcount of 610,000, down from the 760,000 maintained after the 2016 downturn. -
The recent jump in oil price could create additional momentum for margins in the service sector. With shale euphoria wearing off, service company margins are still showing some resiliance. If the price hike persists into 4Q 2019, increased activity could improve pricing further.
