Global Oil Jobs Decrease

Posted November 19, 2015 at 6:58am

Fuel Fix reports: “Still nursing deep financial wounds from the oil-market collapse, the petroleum industry has shed roughly 25,000 jobs around the world in the last two months, cutting upstream workers that analysts say will likely be difficult to replace when the downturn ends.”  

“Job losses in recent weeks have increased the industry’s losses to more than 233,000 since the slump in crude prices took hold late last year, according to energy recruiter Swift Worldwide Resources. Given the speed at which companies are cutting payrolls — a rate that hasn’t slowed down yet — Swift expects layoffs to grow to more than 250,000 this year and to increase again next year if oil prices languish at current levels.”