European Stars and Stripes (Newspaper) - August 7, 1990, Darmstadt, Hesse Page 20 the stars and stripes tuesday August 7,1990 Oil service regains image new York apr thanks to rising Oil prices and the Fla cup of trouble in the Middle East some old stars of the Stock Market arc Back for a much Dclay cd encore. Even before iraqis invasion of Kuwait on thursday the skimpy list of new York Stock Exchange issues making new 52-week highs gave prominent places to names like Schlumberger and Halliburton from the Oil service Industry. And As the hostilities set off an explosive reaction in markets around the world Oil service issues racked up further gains. Until about a year ago it had been a Long dry spell for investors in Oil service companies which specialize in providing equipment and services such As construction and testing for Oil and Gas producers. A. A a the collapse in Oil prices of the mid-1980s, while helping the rest of the Economy and the Overall Stock Market to Prosper drove the Oil service Industry into the red in 1986 and 1987. A subsequent recovery was slow and tortuous. Oit service stocks lagged through most of the 1980s while the Dow Jones average of 30 industrials kept soaring to new Heights. Schlumberger for example had become a Glamour name in the portfolios of investing institutions by the time it hit a record High of . Temperatures $87.25 a share adjusted for splits in late 1980. Then it lapsed into a Long decline that drove it As Tow As $27.37 in 1986 and $26 in the october 1987 crash. From its ticker Symbol sub some Wall Street traders took to calling it since Early 1989, however the shares have More than doubled from $32 to the neighbourhood of $67. Similarly Halliburton after falling from $87 in 1980 to $17.50 in 1986, has rallied Back above $55. Baker Hughes the product of a 1987 merger Between the Oil serv ice companies Baker International and Hughes tool co., has since jumped from $11.12 to around .$33. A a some of that dramatic revival european weather temperatures recorded sunday. 4am 4pm 72 99 Copenhagen c 4 am 4 pm Adana p 66 66 Amsterdam p 63 68 Frankfurt c 66 93 Athens p. Aviano. T. 77 81 London p 64 73 73 88 Madrid p 68 98 Berlin p 68 90 Munich p 57 88 Brume Havert p 61 64 Paris p 73 so Brussels. 0 68 77 Rome. 1 73 90 a provided by det 13, 2nd weather wig Trahon Taibach other worldwide temperatures. High Low High Low Cairo. 1. 93 73 Montreal 1 88 64 Dublin c 68 54 Moscow 1 75 54 75 59 Oslo c a 75 55 Jerusalem f 95 68 Tortolo c 82 66 lisbon95 64 Vancouver 1 79 55 a supplied by the associated press. P partly Clarily. C Cloudy. I Tair has stemmed from an improvement in conditions that has already shown up on the Industry a Bottom line. Few analysts dispute that further profit recovery is in store. A with worldwide Oil and Gas exploration activity on the upswing As a result of rising crude prices companies that provide equipment and services to the International Oil Industry arc Likely to Prosper in coming years a says Standard amp poor a weekly publication the Outlook in a current report on the group. At the same time however some analysts question whether the real live fundamentals Are Strong enough to justify the degree of enthusiasm traders have shown lately for the stocks. The Oil service group has become a favorite of speculators they note As a Means of trying to profit from swings in the Price of Oil. Furthermore they note the experience of the �?T80s has shown that unpredictable shifts in Middle Hast politics can be volatile downward As Well As upward for Oil service investors. Oil workers seek raise Rio de Janeiro Brazil apr brazilian Oil workers want a 280 percent pay raise from the state Oil Mono by Petr Obras and will strike in Early september if their demands Are hot met a Union Leader has said. August 4 i log a Hilo Hilo Hilo Hilo Hilo alumni it 85 if Chattanooga a 92 70 Foit suiiui.1 89 72 los 79 66 rotate to. F 94 51 . 93 73 Akion . 79 68 69 51 fort Wayne c 74 62 93 73 Portland in 90 63 Sioux 83 52 v a 92 69 85 67 Fresno,1 100 73 Lubbock c 85 63 Pori land Oroc 100 69 Sioux 80 50 87 63 Cincinnati a 91 71 goodland.1 83 58 96 72 Providence c 90 67 South 77 64 Allentown i 90 68 Cleveland c. 78 68 grand . 95 63 84 57 83 �52 Spokane f 91 65 85 6? 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