Small U.S. oilfield service companies are selling equipment and shutting their doors as business activity shrank last year and contract prices have remained below profitable levels despite oil-price gains. The companies that provide equipment and services to the shale oil industry were among the hardest hit after the coronavirus pandemic sent oil prices reeling to record lows last year. The departures of loss-making businesses have raised the hopes of larger firms that industry margins will rise. The exit of those firms could help pricing recover across the industry. Discounted prices offered by less powerful competitors have hurt what larger service companies can charge, said Chris Wright, chief executive of hydraulic fracturing company Liberty Oilfield Services, in an interview. “You’re always impacted by pricing from […]