Oct 24 (Reuters) - Baker Hughes ( BKR ) CEO Lorenzo

Simonelli said on Friday the global macro environment remains

resilient through 2025, despite geopolitical and policy

headwinds, supported by the rapid deployment of generative

artificial intelligence driving power demand and industrial

activity.

Simonelli said the company remains confident of reaching

$1.5 billion in data center orders ahead of its original

three-year target as it continues to see strong momentum in data

center power demand.

He, however, said Baker Hughes' ( BKR ) outlook for 2025 remains

unchanged, with a high-single-digit decline in global upstream

spending expected.

Simonelli cautioned that oversupply concerns in the oil

market were weighing on sentiment, with some OPEC+ members still

unable to meet production quotas. He said oil-related upstream

investment is expected to stay subdued until the market absorbs

the group's additional supply.

He said that early indicators suggest 2026 will be another

year of subdued activity and spending declines before a gradual

recovery takes hold, particularly in international and offshore

markets.