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“For the first time in a long time, we’ll see a buyer looking for a barrel of oil as opposed to a barrel of oil looking for a buyer,” Jeff Miller, chief executive officer at the Houston-based oilfield contractor, told an audience at the World Petroleum Congress on Monday.

Halliburton has seen spending by crude explorers outside the U.S. and Canada cut by roughly half compared with historical norms, Miller said.

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Photo Credit: Energy Voice.

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