BKR — BAKER HUGHES FLAGS MODEST SPENDING DECLINE IN 2026 AMID GEOPOLITICAL CAUTION

Oilfield services giant Baker Hughes anticipates a modest decline in annual global spending by oil and gas producers this year, citing a more cautious stance from producers due to the Middle East conflict. The company noted that growth in Latin America and offshore Africa would be offset by lower spending in Europe and the Middle East. Baker Hughes also warned its Industrial & Energy Technology (IET) segment could face a 1-2% revenue hit from regional disruptions.