UPDATE 3-Baker Hughes says clients would rethink projects if oil hits $75
* Says customers think oil price slump is short term
* Sees shale drilling most resilient to oil price drop
* Q3 profit misses estimates as weak Gulf of Mexico hits margins
* Expects N.American, international margins to rebound in Q4
* Shares fall 10 pct (Adds executive, analyst comments, updates shares)
By Swetha Gopinath
Oct 16 (Reuters) - Baker Hughes Inc, the world's No.3 oilfield services provider, said its clients would reconsider projects if oil prices fell to and remained at $75 per barrel for a few months, although many of them considered the recent slide in oil prices a short term blip.
The caution from came after Baker Hughes reported a lower-than-expected profit for the first time in five quarters as political tensions in Libya and Iraq as well as a sharp fall in Gulf of Mexico drilling weighed on margins.
Ample supply and weak demand have hit oil prices. Global benchmark Brent crude oil futures are at about $83 a barrel, off nearly 28 percent from a June high, while U.S. crude prices have fallen to $80 a barrel for the first time in two years. Continuación...