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Oilfield giants issue gloomy predictions for shale

The North American shale sector could experience a sharp decline in drilling in a matter of weeks, possibly by the end of the second quarter, which would make the latest oil downturn much more precipitous and dramatic than the 2016 slump, oilfield giants Schlumberger and Halliburton warn. The situation will be exacerbated by the sector's lack of access to financial markets.

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