The oil-field service sector has lost more than 103,400 jobs nationally during the coronavirus pandemic, dragging service employment to the lowest level since the last oil bust in 2017.
Oil-field service companies shed just 2,600 jobs in August, a sign that job losses in the sector are slowing since the worst of the crude demand destruction in spring. April saw the heaviest job losses totalling more than 58,300 jobs, the largest one-month drop in employment since at least 2013, according to a new report from the Petroleum Equipment & Services Association.
“OFS job losses slowed in August as companies began taking steps to restart oil and gas production,” PESA said in its latest report this week. “While the worst of the cutbacks appear to be behind