Baker Hughes Co Class A

BKR: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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We Lift Our Midcycle Oil Price by $5 to $65 Brent; We Raise Fair Values for Some Services Firms

Joshua Aguilar

Sep 15, 2025

We've updated our midcycle oil price assumption. Our 10-year forecast marries our bullish in-house oil demand view with Rystad's supply projections, which aligns with our revised, long-term take.

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Baker Hughes Co Class A

We Lift Our Midcycle Oil Price by $5 to $65 Brent; We Raise Fair Values for Some Services Firms

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