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Schlumberger to Fight Back on Price Cuts

As in the immortal words of Twisted Sister's Dee Snider, Schlumberger (SLB) isn't going to take it anymore.

Management of the Houston-based oil services giant made it clear on its second quarter conference with analysts and investors Friday that it will resist further price cuts and roll back concessions by being selective with customers and high-grading contracts now that the oil and gas industry appears to be improving.

"Market conditions worsened further in the second quarter and we have now...


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