Weak Q1 25 earnings show the OFS industry is in for a turbulent year

May 22, 2025


Recently released for Energy Aspects subscribers, our analysis reveals a challenging outlook for oil field services companies. Q1 2025 earnings for Baker Hughes, Halliburton, and SLB dropped by a third quarter-on-quarter, to a combined $1.7 billion, the first such decline since Q1 2024.


What you'll discover in this analysis:

  • Major OFS companies' earnings trends and industry health outlook for 2025. 
  • Contrasting performance between tight oil activity and deepwater operations. 
  • Tariff implications for OFS supply chains and equipment manufacturing. 
  • Regional market performance across North America, Mexico, and Saudi Arabia.
  • Strategic responses to shareholder expectations during market turbulence.
Weak Q1 25 earnings show the OFS industry is in for a turbulent year

Download report

Please fill in your contact details to access the full insight.

Recent Posts

Low stocks and China's return put a floor under crude
August 13, 2026
Our Kayrros inventory data show global crude stocks far below pre-conflict levels, with SPR releases slowing and Chinese buying recovering.
Yen and Yang: Treasury Finds Rare Victory in Japan FX Gambit
August 12, 2026
Oil, gas ¯ro market insights: Hormuz deal nears, Qatar LNG risks EU winter supply, Fed hike expected ¥n intervention marks rare Treasury win.
Kayrros LNG intelligence
July 31, 2026
Our thermal imagery flagged Pluto Train 2’s faster commissioning weeks before Woodside’s Q2 26 report confirmed the same milestones.
Show More