28,000 Norwegian oil jobs gone

Oil PlatformsÅgotnes 20160115. Four oil platforms are laid on Ågotnes outside Bergen . The oil industry is in freefall because of record low oil prices. Foto: Tore Meek / NTB scanpix
Since August 2014,  around 28,000 Norwegian oil jobs  have disappeared,  an overview from DNB Markets shows.
The brokerage estimates that between 27,429 and 28,832 jobs have been weeded out due to the drop in oil prices that constantly plunging to new bottom levels, according to the newspaper Dagens Næringsliv.
The last cut came Friday from Aker Solutions, who said that 900 employees have to go as a result of capacity adjustments.
– It seems likely that there will be more capacity reductions in various oil and service companies through 2016, says analyst Morten Nystrom in Nordea Markets to Dagens Næringsliv.
Analyst Øyvind Mossige in Danske Bank Markets sees no immediate positive triggers for oil prices in the first half of 2016.
– But the demand for oil is increasing all the time, so we are waiting for adjustment in production. We see a market that goes against a certain balance in 2017. But exactly where the oil price should be is hard to say. Now we believe somewhere between 45 and 55 dollars a barrel for next year, says Mossige.
Source: NTB scanpix/ Norway Today

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