Schlumberger Ltd., the world’s largest oilfield services provider, will eliminate an additional 11,000 positions in a sign the industry will undergo another round of job cuts as a result of tumbling crude prices.

Removing U.S. oil ban would create jobs beyond drilling

UK oil and gas companies expect to create thousands of jobs over the next two years despite the dramatic slide in oil prices.

Not long ago, oil looked like a black gold mine for General Electric. The company known for toaster ovens and lightbulbs wrapped up a three-year, $10 billion buying spree in 2013 to bolster the growing oil and gas equipment unit that helped GE recover from the financial crisis. The company bulked up with the expectation that crude prices would remain at about $100 a barrel for years.

The U.S. oil and gas sector bled away more jobs last month as sustained low oil prices forced energy producers to reduce spending, suggesting that further pain may be ahead for the struggling industry.