Is GE-Baker Hughes Deal an Inflection Point for Oil?

The transcript discusses the positive aspects of the GE and Baker Hughes deal, highlighting cost-cutting and market opportunities in a low oil price environment. It addresses industry challenges, such as excess capacity, and the impact on competitors like Halliburton and Schlumberger. Skepticism about market rebalancing and oil price trends is expressed, with references to OPEC's efforts. The future outlook suggests gradual oil price recovery and growth opportunities, particularly in North America and eventually internationally.

What is the speaker's perspective on the likelihood of oil prices recovering?

What factors are mentioned that could influence the demand for oil services internationally?