Oil and Gas Employment Hits a 2026 Low Even as Production Sets Records - Crude Oil Prices Today

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  "signal_type": "news",
  "signal_subtype": "decreases_headcount_by",
  "detected_at": "2026-07-18T15:00:00+00:00",
  "company": {
    "name": "ConocoPhillips",
    "domain": "conocophillips.com"
  },
  "data": {
    "url": "https://oilprice.com/Energy/Crude-Oil/Oil-and-Gas-Employment-Hits-a-2026-Low-Even-as-Production-Sets-Records.html",
    "title": "Oil and Gas Employment Hits a 2026 Low Even as Production Sets Records - Crude Oil Prices Today | OilPrice.com",
    "excerpt": "Chevron is cutting up to 9,000 jobs this year. That's a fifth of its global workforce, gone, while it digests the $53 billion Hess deal. ExxonMobil trimmed 2,000 . BP shed more than 5 percent of its staff, plus 3,000 contractors . ConocoPhillips is cutting 20 to 25 percent . Imperial Oil is cutting a fifth of its people and shutting its Calgary office entirely. And in June, U.S. oil and gas extraction employment fell to 114,500 workers , the second-lowest June the Bureau of Labor Statistics has on record, beaten only by the pandemic bottom of 2021. Production didn't fall; it's near record highs…but the jobs are disappearing anyway. And before anyone assumes it’s renewable energy’s fault…it isn’t, not directly, at least. Nobody at Chevron got a pink slip because a wind farm opened next door. Automation, mergers, and a decade of investors who'd rather see returns than growth did this. Ten Years, 72,800 Fewer Jobs Back in January 2016, extraction employment topped out at 187,300 , right before the price crash gutted the sector… A decade on, the workforce sits almost 40 percent below that number, even while wells across the Permian and Eagle Ford keep breaking output records. This year alone tells the story in miniature… 115,500 in January, a bump to 116,200 in February , then a slide every month after, down to 114,500 by June. Set OilPrice.com as a preferred source in Google here...",
    "summary": "ConocoPhillips is reducing its workforce by 20 to 25 percent.",
    "planning": false,
    "image_url": "https://d32r1sh890xpii.cloudfront.net/article/1200x675/2026-07-16_nywhawpspu.jpg",
    "confidence": 0.9,
    "published_at": "2026-07-18T15:00:00Z",
    "article_sentence": "ConocoPhillips is cutting 20 to 25 percent ."
  }
}

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