40,000 fewer jobs in the oil industry

Oil industry: 50,000 oil jobs disappear in downturn exportsOil industry. Photo Wikipedia

Over 40,000 jobs in the oil and gas industry have been lost since the beginning of 2014, according to figures from DNB Markets.

Although oil prices are on the rise, there is no party in wait.

The latest figures from stockbroker Truls Oma Erichsrud at DNB Markets shows that the industry has announced cuts of almost 40,100 jobs.

Colleague and oil analyst Torbjorn Kjus is not surprised:

– Jobs are still being cut and we think they will probably continue to disappear.

Although oil prices have reversed since January this year, this is an expected delay effect for the entire industry.

The oil industry is now really starting to notice the cuts offshore, says the news channel NTB.


Source: NTB scanpix / Norway Today