covid 19

The U.S. oilfield services (OFS) industry through August had lost more than 100,000 jobs since the coronavirus pandemic began eating away at oil and gas demand, according to the Petroleum Equipment & Services Association (PESA). 

And the future remains a bit wobbly, according to PESA, which represents OFS operators involved in oilfield equipment manufacturing, drilling, well completions and pressure pumping.

“While the worst of the cutbacks appear to be behind the industry, considerable uncertainty about the future remains because a surge in Covid-19 cases could derail the economic recovery and suppress demand,” researchers noted.

The monthly Oilfield Services and Equipment Employment Report issued by PESA estimated total U.S. job losses in the OFS sector tied to...