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Energy Technology, Not Just Oilfield Services
- Baker Hughes positions itself as an energy technology company spanning data centers, electrification, and molecular energy expertise.
- The company's portfolio lets it play across industrial power and traditional energy services simultaneously.
Bigger Bet On Data Center Power
- Baker Hughes raised its three-year data center order target to $3 billion, doubling prior estimates for 2025–27.
- The company expects power generation and electricity consumption trends to drive sustained demand into 2040.
Oil Prices Will Likely Stay Range-Bound
- Simonelli warns against trying to predict oil prices and expects them to remain range-bound, with 2026 relatively soft.
- He expects supply to suffice short-term but demand to improve in the back half of 2026 and beyond.