Oil and Gas Employment Hits Decade Low Despite Record Production
U.S. oil and gas extraction employment fell to 114,500 workers in June 2025, the second-lowest June on record, even as domestic production nears all-time highs. Major companies including Chevron (up to 9,000 job cuts), ExxonMobil (2,000), BP (5% of staff plus 3,000 contractors), ConocoPhillips (20-25%), and Imperial Oil (20%) have announced significant layoffs. The job losses are driven by mergers (Chevron's $53 billion Hess deal, Exxon's Pioneer acquisition) and automation, not falling oil prices. Output per hour jumped 11.4% in 2023. Oilfield services, employing over 627,000 people, are losing jobs even faster. The article notes that while extraction jobs decline, demand is rising for higher-skilled roles like electricians and automation techs, with geothermal and AI data centers absorbing some displaced workers.
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