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One million service jobs lost this year: Rystad

THE global oil field service industry will lose over one million jobs this year as oil prices and ongoing COVID-19 worries lead to low project volumes, with most of the pain felt by the shale sector, accounting for a 20% loss overall.

FIFO workers eat in a quarantined cafeteria. Image CMEWA.

FIFO workers eat in a quarantined cafeteria. Image CMEWA.

Rystad Energy analysis suggests contractors could cut the workforce by 21% globally this year alone. Broken down 13% of all layoffs will be driven by the huge oil price fall and the other 8% from...

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