On Friday, April 19, oil services company SLB SLB.N announced a 14% increase in its first-quarter profit.

The company expects a seasonal rebound in activity in the northern hemisphere in the second quarter, as well as robust business internationally. Analysts believe that increased demand for oil and gas drilling in the Middle East and Africa helped offset weakness in North America. SLB's international revenue grew by 18% to $7.06 billion, up from $5.99 billion in the previous quarter

According to CEO Olivier Le Peuch, operators could increase their investments in the production and recovery of deposits in order to increase the efficiency and lifespan of their production assets as oil demand increases.

In addition, North American revenues fell by 6% to $1.6 billion, lower than analysts' estimates of $1.65 billion due to lower natural gas prices and the consolidation of oil producers. According to the director, SLB expects very strong growth and renewed activity in almost every country in the Middle East, with the possible exception of Egypt