Oil Worker Layoffs

Oil and gas firms have cut jobs to survive what is expected to be a long stretch of weak demand. Rystad Energy consultancy said in October more than 400,000 industry jobs had been cut up to that point of 2020, half of them in the United States, where there is a heavy focus on costly shale oil output.Jan 12, 2021

Recent News and Discussions About Oil Worker Layoffs

Top Oil & Gas Firms Increased Layoffs, Cutting 15k Jobs in 2021

https://bailoutwatch.org/analysis/top-oil–gas-firms-increased-layoffs-cutting-15k-jobs-2021

Top Oil & Gas Firms Increased Layoffs, Cutting 15k Jobs in 2021
May 9, 2022 — The companies slashed payrolls by 13% over a two-year period, eliminating 6% of their 2019 workers during 2020 and another 7.3% during 2021 …


The oil and gas industry has lost more than 100,000 jobs this …

https://fortune.com/2020/10/05/oil-gas-jobs-transition-climate-coronavirus/

Oct 4, 2020 — The oil , natural gas, and chemicals industry in the U.S. eliminated 107,000 jobs between March and August of this year, according to a report …


Thousands Of Laid-Off Oil Workers Struggle To Start Again

https://www.wwno.org/post/thousands-laid-oil-workers-struggle-start-again

Jan 27, 2021 — With one of the highest unemployment rates in the nation, hovering around 7 percent, laid-off oil workers are struggling to find their …


US oil and gas industry lost 107,000 jobs in the pandemic …

https://www.houstonchronicle.com/business/energy/article/U-S-oil-and-gas-industry-lost-107-000-jobs-in-15633468.php

Oct 9, 2020 — About 107,000 oil , gas and petrochemical workers — or about 7 percent of the 1.5 million employed in the industry nationally — have been laid …


The U.S. Lost 120,000 Oil & Gas Jobs In 2020 | OilPrice.com

https://oilprice.com/Energy/Energy-General/The-US-Lost-120000-Oil-Gas-Jobs-In-2020.html

Mar 10, 2021 — Companies in the industry cut thousands of jobs in the United States and globally last year. The biggest oil firms cut thousands of jobs each, …


The pandemic made 107000 oil and gas jobs disappear. Most …

https://www.cnn.com/2020/10/08/business/oil-gas-jobs/index.html

Oct 8, 2020 — A staggering 107,000 jobs vanished from the US oil , gas and chemicals industry between March and August 2020, according to an analysis published …


A US oil company cut nearly 2000 jobs – The Guardian

https://www.theguardian.com/us-news/2021/jun/18/marathon-petroleum-job-cuts-pandemic-benefits

Jun 18, 2021 — Last year, Marathon laid off 1,920 workers across the US despite taking $2.1bn in federal tax benefits meant to cushion the pandemic’s blow …


Oilfield workforce shrinks in 2021, giving up all last year’s gains

https://www.worldoil.com/news/2021/3/5/oilfield-workforce-shrinks-in-2021-giving-up-all-last-year-s-gains

Mar 5, 2021 — OFS job losses since February 2020 are estimated to be heaviest in Texas and Louisiana, which are the nation’s leaders in oil and gas production …


Fossil Fuel Companies Are Job Killers – The New Republic

https://newrepublic.com/article/161937/fossil-fuel-companies-job-killers

Apr 5, 2021 — Fossil fuel companies are generally happy to take federal money and lay off employees anyway. A study from Bailout Watch finds that 77 oil and …


The future of work in oil, gas and chemicals – Deloitte

https://www2.deloitte.com/us/en/insights/industry/oil-and-gas/future-of-work-oil-and-gas-chemicals.html

Oct 5, 2020 — The employment situation took a turn for the worse due to COVID-led slowdown of the economy and the resulting oil price crash, leading to the …


Frequently Asked Questions

How many oil workers were laid off?

The 20 biggest U.S. fossil fuel firms cut nearly 15,000 jobs in 2021, up from a net loss of 13,000 jobs the previous year, a new BailoutWatch analysis of their securities filings has found.

How many jobs were lost in the oil industry?

While the price of oil is starting to rebound, a study released by Deloitte last fall found that some 70 percent of the 107,000 jobs lost between March and August 2020 may not return, and those that do are likely to be weighted toward white-collar office work.

Is the oilfield coming back?

U.S. production is coming back already, and it’s going to come back more in 2022,” Yergin said. The expected rebound comes after the pandemic caused the largest-ever drop in oil prices in the first few months of 2020.

Is oil a declining industry?

By 2019 (the last data set before Covid) global oil intensity was 0.43 barrel per $1,000 of global GDP—a 56% decline. Oil has become a lot less important and humanity has become more efficient in making use of it.

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