Halliburton expects multi-year oilfield service growth following Middle East war

Halliburton Co. expects years of growing demand for oilfield services as Middle Eastern nations rebuild energy assets and infrastructure damaged during the conflict with Iran, Rigzone News reported on Tuesday. Chief Executive Officer Jeff Miller stated in the company quarterly earnings report that the world is three months into one of the largest energy disruptions in history, according to Bloomberg and Rigzone News. [1][4]

Miller said the work to restore oil production, rebuild inventories, and strengthen energy security will drive long-term demand growth, Rigzone News and Transport Topics reported. The commentary highlights industry expectations for sustained recovery efforts in the region following military activity involving Iran, the United States, and Israel that began in February 2026. [1][5][7]

In related energy transit developments, HSBC Group Chief Executive Officer Georges Elhedery stated at the HSBC Future Forum in Dubai that the Strait of Hormuz could become redundant within five years, Oilprice reported. Elhedery noted that the acceleration of alternative pipelines and storage plans to bypass the strait could reshape Middle Eastern oil exports, according to Reuters cited by Oilprice. [2]