Drilling and activity levels remain robust but customers are growing increasingly nervy about the tumbling price of oil, Weir Group (WEIR) has warned.
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Shares in the troubled Scottish oil and gas equipment supplier have come under pressure in recent months as the price of a barrel of oil has almost halved from $115 six months ago. In response, Weir said that while its key oil unit is holding up, original equipment orders are in decline as customers evaluate their response to the oil price slide.
