Outlook seen strong for oil service industry

Oil service companies are watching both their stock prices and their earnings margins grow, analysts have said, adding that the service sector is being driven by increased oil and gas drilling activity worldwide.Investors appear to agree, as the benchmark Oil Service Index rose 1.64% to 124.24 Mar. 23.E&P stocks slipMeanwhile, Robert Morris, Salomon Smith Barney Inc. analyst in New York, issued a report noting the stock value of exploration and production companies dropped after the Federal Reserve lowered interest rates."E&P shares declined by 2.6% on averageellipsewhile West Texas Intermediate spot crude oil and composite spot natural gas prices rose 0.9% and 1.2%, respectively. Concurr...

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