The world's third-largest oilfield services provider stated in a corporate update Wednesday that the worst supply chain issues "should be behind us," as this could indicate U.S. crude production could meaningfully increase in 2023. Baker Hughes Co. reported third-quarter results and posted a loss, compared with a profit last year, hit largely by $230 million in restructuring costs and impairment charges after a recent reorganization announcement.
During the quarter, Baker Hughes said it would "simplify its organization" and restructure…Baker Hughes Sees Bright 2023 For U.S. Oil
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