Employment figures decreased in the oil, natural gas, and chemicals industry between December 2019 and August 2020 due to the coronavirus pandemic, with a total of 107 thousand lost jobs in the United States. A pessimistic scenario outlook, where oil prices will remain around 35 U.S. dollars per barrel and gas prices at 2.50 U.S. dollars per million British thermal units, would see only three percent of jobs recovered by the end of 2021. Even within the optimistic scenario outlook, not all jobs are set to be recovered.
Forecasted employment in oil, gas and chemicals industries following the coronavirus pandemic in the United States, by scenario*
(in 1,000s)
Characteristic
Actual figures
Pessimistic
Consensus
Optimistic
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* Each scenarios for end 2021 considered the following variables: Pessimistic: oil at 35 U.S. dollars per barrel; gas at 2 U.S. dollars per million British thermal units; production of -10% to -5% (over 2019); valuations of -50% to -15% (over 2019); Consensus: oil at 45 U.S. dollars per barrel; gas at 2.50 U.S. dollars per million British thermal unit; production of -5% to -2.5% (over 2019); valuations of -47% to -10% (over 2019); Optimistic: oil at 45 U.S. dollars per barrel; gas at 2.50 U.S. dollars per million British thermal unit; production of -5% to -2.5% (over 2019); valuations of -47% to -10% (over 2019).
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Deloitte. (October 5, 2020). Forecasted employment in oil, gas and chemicals industries following the coronavirus pandemic in the United States, by scenario* (in 1,000s) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1179156/us-impact-of-coronavirus-pandemic-in-the-oil-gas-chemicals-industries/
Deloitte. "Forecasted employment in oil, gas and chemicals industries following the coronavirus pandemic in the United States, by scenario* (in 1,000s)." Chart. October 5, 2020. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1179156/us-impact-of-coronavirus-pandemic-in-the-oil-gas-chemicals-industries/
Deloitte. (2020). Forecasted employment in oil, gas and chemicals industries following the coronavirus pandemic in the United States, by scenario* (in 1,000s). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1179156/us-impact-of-coronavirus-pandemic-in-the-oil-gas-chemicals-industries/
Deloitte. "Forecasted Employment in Oil, Gas and Chemicals Industries following The Coronavirus Pandemic in The United States, by Scenario* (in 1,000s)." Statista, Statista Inc., 5 Oct 2020, https://www.statista.com/statistics/1179156/us-impact-of-coronavirus-pandemic-in-the-oil-gas-chemicals-industries/
Deloitte, Forecasted employment in oil, gas and chemicals industries following the coronavirus pandemic in the United States, by scenario* (in 1,000s) Statista, https://www.statista.com/statistics/1179156/us-impact-of-coronavirus-pandemic-in-the-oil-gas-chemicals-industries/ (last visited July 22, 2024)
Forecasted employment in oil, gas and chemicals industries following the coronavirus pandemic in the United States, by scenario* (in 1,000s) [Graph], Deloitte, October 5, 2020. [Online]. Available: https://www.statista.com/statistics/1179156/us-impact-of-coronavirus-pandemic-in-the-oil-gas-chemicals-industries/
