As much as 70 percent of the more than 100,000 jobs lost in the U.S. oil, gas, and chemicals industries due to the pandemic may not return by the end of 2021, Deloitte said in an analysis on Monday. Since the previous oil price crash of 2014, employment in the oil, gas, and chemical sectors (OG&C) has become much more sensitive to changes in crude oil prices due to the short-cycle investment and production in the U.S. shale patch, Deloitte noted. “Our multivariate statistical analysis on employment and market data suggests that as much as 70% of jobs lost during the pandemic may not come back by the end of 2021 in a consensus business-as-usual scenario,” Deloitte analysts led by Duane Dickson, US Oil, Gas & Chemicals leader, wrote in the analysis. According to Deloitte’s analysis of U.S. Bureau of Labor Statistics data, the OG&C industry laid off about […]