NEW YORK ( TheStreet) -- Schlumberger (SLB - Get Report) shares have been pummeled along with other oil services and energy stocks. It's off 23% from its recent highs and well below levels set back in August of last year at $92.22.The reason is because of concerns about slowing global growth which has resulted in a 25% drop in the price of crude. Oil services stocks are one of the most leveraged ways to play the energy sector because the projects that they are contracted for are based on the health of balance sheets of their customers, the integrated and national oil companies. So as oil prices move higher, the international and national oil companies make more money and put that cash to work to find oil and natural gas around the world - and they rely on the oil services companies to help in that process.
Stephanie Link -- Notes on SLB
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