Alaska oil industry still reeling from pandemic crash even as prices recover Published 1 hour ago
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Print article The price of North Slope crude largely recovered months ago from the unprecedented fall it took a year ago, but if a recovery is also going to occur in Alaska’s oil workforce it has yet to materialize. Preliminary employment data for March from the state Labor Department indicates the industry is continuing in the other direction. Approximately 6,300 people were employed in the state’s oil and gas sector last month, which was in line with February but did not reverse a declining trend that has persisted since the start of the pandemic.
Wed, 04/21/2021 - 8:53am
Prices have recovered from an unprecedented price crash in 2020, but jobs on the North Slope are still lagging far beyond near- and long-term peak levels. (Photo/File/AJOC)
The price for Alaska North Slope crude largely recovered months ago from the unprecedented fall it took a year ago, but if a recovery is also going to occur in Alaska’s oil workforce it has yet to materialize.
Rather, preliminary employment data for March from the state Labor Department indicates the industry is continuing in the other direction. Approximately 6,300 people were employed in the state’s oil and gas sector last month, which was in line with February but did not reverse a declining trend that has persisted since the start of the pandemic.