Oil and Gas Employment Hits a 2026 Low Even as Production Sets Records

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.…