The petroleum sector is facing job cuts as crude prices stay low and companies merge. Brent crude is around $63–64 per barrel, down about 10.5% this year, pushing major oil companies to reduce staff to stay profitable. This has raised concerns for supply chains and downstream markets, including lubricant production.
Recent moves show the scale: Imperial Oil will cut 20% of its workforce (around 900 jobs) and shift Calgary operations to Edmonton. ExxonMobil plans 2,000 job cuts through office consolidations. ConocoPhillips and Chevron are reducing thousands of positions, while BP is trimming about 7,000 roles.
Service firms like Halliburton and SLB have also cut 20–40% of key staff. Analysts warn that continued low prices may trigger more layoffs, potentially affecting supply and operations for distributors and jobbers.
Impact on the Lubricants and Downstream Market
These changes show the industry is restructuring. Companies are investing in automation and digital tools to save costs, which could push innovation but reduce non-technical jobs. Supply chain challenges may affect availability of base oils and lubricants, making it important for businesses to plan ahead.
Note: Data is from public reports as of October 6, 2025, and may change. Readers should verify with primary sources.
Editor-at-Large
A passionate writer in the lubricant industry, Awais Iqbal has been covering oils, greases, and industrial fluids since the start of his career. At 25, he’s already written for blogs, catalogs, and brand guides across the UAE. Awais’s insights help companies connect with their audience, and his clear, helpful writing style is trusted by brands in the region.
