Oil Field Job Cuts Pile Up in the US Shale Patch for Fear of a Glut
Producers are slashing head count as OPEC+ hikes threaten to weaken prices further.
Workers in the Permian Basin connect drill bits and collars used to extract petroleum near Midland, Texas.
Photographer: Brittany Sowacke/Bloomberg
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Welcome to our guide to the commodities powering the global economy. Today, shale reporters Emma Sanchez and David Wethe detail the dire outlook for workers responsible for keeping US oil and natural gas flowing.
Roustabouts, roughnecks and petroleum engineers in US oil fields are facing the deepest job cuts since crude prices crashed three years ago, and the prospects of an upturn any time soon are looking bleak.