More than 150,000 jobs in the oil and gas sector in the U.S. have been cut since the start of the oil price crisis in mid-2014. In just the first ten months of this year, sector players announced plans to lay off 103,000 people , up from 90,000 who lost their jobs in 2015. According to data from February this year, the total of the cut jobs represents over 10 percent of the oil and gas workforce as of October 2014. Now, that sounds bad, especially coupled with the conclusion of a Wood Mackenzie report that calculates that Big Oil needs to slash another US$370 billion in costs this year and next, to prop up its balance sheets. This means more jobs will be cut. However, there are indications that the worst may be over for the U.S. energy industry. In fact, the worst may have been over even […]