job losses in the oil fields caused by the Corona pandemic exceeded 100,000 in the United States in August, despite the resumption of some stalled drilling projects.
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According to Reuters, a report published by the Petroleum Equipment and Services Association (PESA) stated that 121,000 jobs in the oil fields were lost in the past twelve months and that employment in the sector In the United States it was at its lowest level since March 2017.
The report said that most of these job losses, 103,420 jobs, have occurred since the start of the pandemic.
US crude futures were trading around $ 37 a barrel on Tuesday, which is lower than the production cost of many American producers.
According to data from the US Energy Information Administration, US shale oil production was 7.6 million barrels per day in August, down from 9.2 million barrels per day in February. Before the pandemic crushes the demand for fuel.
Despite the grim numbers, the report found that the rate of job losses in the US energy sector is slowing if only 2,600 jobs were lost last month, the lowest since the pandemic began in March .
(Amazon fun knowledge)
