Oilfield Service Providers Enjoying Soaring Profits Amid Robust Demand

The Big 3 oilfield services (OFS) companies Baker Hughes (NASDAQ:BKR), Halliburton (NYSE:HAL) and Schlumberger (NYSE:SLB) are set to post a combined second-quarter adjusted profit of $2.04 billion, compared with $1.27 billion in the year-ago quarter, thanks to robust demand for their services as well as a surge in offshore oil and gas drilling. "International strength is led by the Middle-East and Latin America and is powered by a multi-year push to grow oil and gas production capacity, near-term OPEC+ cuts notwithstanding," BofA analysts said…