SLB: Is This Oil Services Giant One of the Best Stocks to Buy Now?

When it comes to best stocks to buy now in the energy sector, Schlumberger (NYSE: SLB) has captured investor attention with a compelling mix of near-term catalysts and long-term transformation. The oil services powerhouse has climbed approximately 25% since the beginning of 2026, driven primarily by optimism surrounding Venezuelan oil production. However, a closer examination reveals important nuances that could guide investment decisions.

Venezuela’s Economic Revival Drives SLB’s Recent Momentum

The capture of former Venezuelan President Nicolas Maduro has reignited interest in the nation’s vast oil reserves, benefiting not just exploration and production companies but also critical service providers like SLB. Venezuela sits on the world’s largest proven oil reserves at 303 billion barrels, yet decades of underinvestment have left the infrastructure severely depleted. As recently as 2014, approximately 80 active drilling rigs operated in Venezuela; today, only a handful remain operational.

This is where SLB’s story becomes compelling. Unlike many Western oil companies forced to exit Venezuela after nationalization in 2007, Schlumberger maintained its operational presence. The company has explicitly signaled its readiness to accelerate activities in the country once the political environment stabilizes. Paired with Chevron’s continued operations there, SLB stands positioned as a key enabler of Venezuelan production recovery.

The recent 3.30% pullback over the five-day period ending February 2 suggests the stock may experience profit-taking. Rather than representing a bearish signal, this volatility could present more attractive entry points for patient investors evaluating SLB as a long-term holding.

Beyond Venezuela: The Real Case for SLB as a Best Stock to Buy Now

While Venezuela represents an important near-term narrative, relying solely on this catalyst may limit investment thesis. The company’s exposure to South American oil development is meaningful, but market efficiency suggests much of this upside may already be reflected in current valuations—particularly until concrete evidence of Venezuelan production acceleration emerges.

The broader investment case for SLB extends well beyond geopolitical tailwinds. Through its acquisition of ChampionX, SLB has undergone a significant digital transformation, now offering comprehensive artificial intelligence solutions for energy producers. This positions the company as more than a traditional oil services provider; it’s increasingly a technology platform serving the energy transition.

SLB’s partnership with Nvidia exemplifies this evolution. The company now provides data center solutions and AI-driven optimization tools, tapping into the fast-growing artificial intelligence infrastructure market. This diversification creates multiple revenue streams independent of crude oil price movements or regional production dynamics.

Making the Investment Decision: What to Consider Before Adding SLB

Determining whether SLB qualifies as one of the best stocks to buy now requires balancing several factors. The company offers dual appeal: near-term Venezuelan production upside combined with medium-to-long-term technology and AI exposure. However, investors must weigh the risks inherent in geopolitical dependence against the company’s improved operational footprint.

The stock’s recent momentum reflects genuine business improvement rather than pure speculation. SLB’s technological capabilities and market position in critical sectors like data infrastructure suggest resilience even if Venezuelan recovery proves slower than anticipated. The company’s established relationships with major oil producers like Chevron provide stable revenue foundations.

For investors seeking exposure to the energy sector’s evolution and transformation, SLB presents compelling characteristics. The combination of near-term catalysts, long-term growth drivers through AI and data solutions, and established market positioning makes SLB worthy of consideration in a diversified investment portfolio. Whether it represents the best stocks to buy now ultimately depends on individual risk tolerance and portfolio objectives, but the company’s multi-faceted growth narrative merits serious evaluation.