Schlumberger -- too soon to predict energy demand

Tue Sep 30, 2008 10:25am EDT
 
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HOUSTON, Sept 30 (Reuters) - The chief executive officer of Schlumberger Ltd (SLB.N), the world's largest oilfield services company, said on Tuesday it is too early to determine how the financial market meltdown will affect energy demand.

"It is also impossible at this stage to predict to what extent turmoil in financial markets is going to affect demand through a slowdown in the overall economy," Schlumberger CEO Andrew Gould told investors.

Gould also said that although high oil prices have curbed demand in some developing countries, energy supplies are still tight and a deep drop in growth would be needed to slow exploration and production. (Reporting by Anna Driver, editing by Gerald E. McCormick)

 

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