BUZZ-Oilfield service providers: Schlumberger says oil demand to rise

Fri Oct 17, 2014 11:22am EDT
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** Shares of oilfield services providers up 7-13 pct

** Shares of Halliburton Co up 5.9 pct at $54.22, of Schlumberger Ltd up 6 pct at $96.09 and of Baker Hughes Inc up 4.8 pct at $54.51

** Schlumberger, world's largest oilfield services company, says oil and gas spending will rise in 2015 as global oil demand is poised to increase

** Company downplays fears of investment slowdown due to weak crude prices and reports better-than-expected Q3 profit on Thursday

** Baker Hughes says on Thursday that drilling activity is unlikely to slow unless crude fell to and remained at $75 a barrel for few months

** Oil prices bounce from 4-year low on Friday. Prices have fallen by more than a fifth since June