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30000 oil and gas workers to be laid off

30000 oil and gas workers to be laid off

North Sea oil and gas jobs are facing furloughs and layoffs as oil prices plummet during the Covid-19 Pandemic. Oil prices have dropped from a peak of $120 per barrel to less than $16 per barrel. The price drop is due to both a decrease in use and a relative oil glut. There are 120000 workers in the North Sea oil enterprise.

Hugh
Hugh
Top in Business