A steady recovery in global energy demand, combined with tighter natural gas and oil supplies,  are creating favorable conditions for activity in the year ahead, Schlumberger Ltd. CEO Olivier Le Peuch said Friday.

The largest oilfield services (OFS) company in the world unveiled its strong fourth quarter results, with Le Peuch detailing the outlook and outlook for 2022 during a conference call. 

“The macro environment is increasingly supportive of a potential supercycle,” with market growth extending “both onshore and offshore well beyond 2022,” Le Peuch told investors during the call. 

The company has “increased confidence in our view of robust, multi-year market growth, tight oil supply, and demand growth beyond the pre-pandemic peak.” Shrinking spare capacity...