Schlumberger, the world's largest oilfield service provider, turned losses last year due to relatively high oil prices in the first three quarters of last year.

Oil service giant Schlumberger recently announced that 2018 annual revenue of 32.815 billion US dollars, with an increase of 8%; net profit of 2.138 billion US dollars. Last year, its net profit was a loss of $1.505 billion.

According to the announcement, Schlumberger's revenue in the fourth quarter of 2018 was 8.18 billion US dollars, stronger than market expectations, net profit of 538 million US dollars, a loss of 2.26 billion US dollars in the same period last year.

Schlumberger plans to reduce spending in 2019, which will be between $1.5 billion and $1.7 billion, Less than $2.2 billion in 2018.

Schlumberger expects that it will achieve single-digit growth in the international market this year.