June’s job losses were also revised to 1,500, which was “less severe than the previously estimated 2,700,” the Texas Oil & Gas Workers Association said. “Despite declines over the past two months, year-to-date growth remains positive at 4,300 upstream jobs.”
Drilling activity snapped a three-week downturn, holding steady this week. Oilfield services firm Baker Hughes said Friday its weekly U.S. rig count was unchanged at 539 rigs, down 47 rigs or 8% from 586 rigs a year ago.
Curious Minds Corner
How many litres are there in a standard barrel of oil?