---
title: "Oil and gas jobs fall to near-record low despite output surge"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/293131579.md"
description: "U.S. oil and gas extraction employment fell to 114,500 in June 2026, near historic lows, despite record production levels. Major firms including Chevron, ExxonMobil, BP, and ConocoPhillips are implementing layoffs linked to mergers and cost-saving measures. Concurrently, automation and new energy initiatives are shifting labor demand toward electricians and technicians, reducing the need for traditional oilfield roles."
datetime: "2026-07-19T18:53:47.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/293131579.md)
  - [en](https://longbridge.com/en/news/293131579.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/293131579.md)
---

# Oil and gas jobs fall to near-record low despite output surge

Record output, fewer jobs: June 2026 extraction employment dropped to 114,500, near historic lows, despite U.S. oil and gas production staying close to record highs. Layoffs and consolidation: Major firms like Chevron, ExxonMobil, BP, and ConocoPhillips are cutting thousands of jobs, often tied to mergers and cost-saving strategies. Shift in skills demand: Automation and new energy projects are creating demand for electricians and technicians while reducing need for traditional oilfield labor.

### Related Stocks

- [COP.US](https://longbridge.com/en/quote/COP.US.md)
- [BP.UK](https://longbridge.com/en/quote/BP.UK.md)
- [CVX.US](https://longbridge.com/en/quote/CVX.US.md)
- [BP.US](https://longbridge.com/en/quote/BP.US.md)
- [XOM.US](https://longbridge.com/en/quote/XOM.US.md)
- [BPH.US](https://longbridge.com/en/quote/BPH.US.md)
- [XOMX.US](https://longbridge.com/en/quote/XOMX.US.md)
- [XOMZ.US](https://longbridge.com/en/quote/XOMZ.US.md)
- [XOMO.US](https://longbridge.com/en/quote/XOMO.US.md)
- [USO.US](https://longbridge.com/en/quote/USO.US.md)
- [BNO.US](https://longbridge.com/en/quote/BNO.US.md)
- [UCO.US](https://longbridge.com/en/quote/UCO.US.md)

## Related News & Research

- [Annex Advisory Services LLC Purchases 22,387 Shares of ExxonMobil Corporation $XOM](https://longbridge.com/en/news/295632168.md)
- [Chevron finds oil, gas condensate offshore Angola](https://longbridge.com/en/news/296103737.md)
- [Mitsubishi UFJ Trust & Banking Corp Buys 54,637 Shares of ConocoPhillips $COP](https://longbridge.com/en/news/296084237.md)
- [Heritage Investors Management Corp Sells 9,615 Shares of ConocoPhillips $COP](https://longbridge.com/en/news/296017287.md)
- [Chevron New Energies President Jeff Gustavson disposes of 14,044 shares for $2.74 million](https://longbridge.com/en/news/295852268.md)