How Is Schlumberger Reacting to Crude Oil Prices?
Schlumberger’s (SLB) correlation with crude oil’s price from July 13 to July 20 was 0.38. SLB announced its second-quarter earnings on July 20, and its correlation with crude oil was moderately strong during the week. Since April 20, the date that SLB released its first-quarter results, its correlation with crude oil has been marginally lower.