Rystad: More than 1 million oil service staff risk unemployment

Roughly one in five service functions in the oil industry risk elimination due to the current coronavirus crisis, deems analyst firm Rystad Energy.

Photo: Essam Al-Sudani/Reuters/Ritzau Scanpix

The extensive oil crisis – resulting from both the Covid-19 pandemic and a major conflict between oil nations – could have serious consequences for the oil industry's service workers.

Globally, more than 1 million personnel are at risk of losing their jobs during the year, according to Norwegian analyst firm Rystad Energy. For context, Rystad informs that the global oil sector employs around 5 million people.

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