Texas Tech University

More than 1 million oil workers are set to lose their jobs this year, a new analysis reveals

Business Insider

March 25, 2020

Business Insider - More than one million oilfield service jobs are likely to be cut this year in the wake of the spreading coronavirus and historic oil price crash, according to an analysis published by the research firm Rystad Energy.

Within the E&P sector, oilfield service (OFS) workers and firms are often hit first by layoffs, according to Marshall Watson, a professor of petroleum engineering at Texas Tech University.

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