Price Watch
A daily bulletin about oil and gas
The Futures
Oil and gas prices are more than numbers—they reflect global events, technological advancements, and environmental concerns.
Horizon Energy Digest
Houston-based ConocoPhillips says it will lay off up to 25% of its workforce
Oil giant ConocoPhillips is planning to lay off up to a quarter of its workforce, amounting to thousands of jobs, as part of broader efforts from the company to cut costs. A spokesperson for ConocoPhillips confirmed the layoffs on Wednesday, noting that 20% to 25% of the company’s employees and contractors would be impacted worldwide.
Global oil and gas company layoffs in 2024 and 2025
International oil and gas companies have announced they would cut tens of thousands of jobs in 2024 and 2025 due to lower oil prices and as they consolidate after the biggest wave of mergers and acquisitions in the industry for decades. Benchmark Brent crude futures have fallen in 2025 as OPEC+ increases output and amid economic uncertainty due to U.S. trade policy.
Curious Minds Corner
Which country consumes the most oil in the world?
The United States consumes more than 19 million barrels daily.