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Oilfield services industry recovery gains traction

Oilfield services giants delivered better-than-expected fourth-quarter results, in a sign that the industry is on a recovery trajectory, and sounded a note of cautious optimism for the year ahead, noting that producers are not rushing to put rigs back to work. Schlumberger and Baker Hughes reported their first profits since last spring's oil price crash, at $374 million and $653 million, respectively.

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