Schlumberger (SLB) Stock Hits One-Year Low as Oil Prices Drop to Four-Year Low

NEW YORK (TheStreet) -- Shares of the world's largest oilfield services company Schlumberger  plunged more than 8% to a 52-week low of $83.25 on Friday after OPEC decided earlier this week not to cut oil production, which could leave the market oversupplied. Crude oil prices plummeted 6.5% to $69.38 per barrel on Friday, the largest one-day decline since May 2011 and the lowest price since 2010. Brent futures declined to $71.12, the lowest price since July 2010. "We are seeing continued overs...