24,800 Norwegian jobs disappeared in three years due to oil price drop

The dramatic drop in oil prices from 2014 onwards cost approximately 25,000 Norwegian jobs in the Norwegian oil sector alone in 2015, 2016 and 2017. New figures from Statistics Norway show this development, writes business daily Dagens Næringsliv.

Photo: Ole Jørgen Bratland - Statoil

The oil price drop that began in 2014 and continued for a couple of years was dramatic. And it had severe consequences for employment in the Norwegian oil industry.

New figures from Statistics Norway, Statistisk sentralbyrå, show that there were 195,000 jobs in the Norwegian oil industry in 2015. In 2017, the number had dropped to 170,200 jobs, writes business daily Dagens Næringsliv. This means that a total number of 24,800 jobs disappeared due to the oil price drop.

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