According to a survey conducted by Reuters, almost one in three workers in the oil and gas industry faced pay cuts in 2020. The massive economic trend was the result of the pandemic driving down fuel demand and prices. Salaries in the sector are closely tied to oil prices, which plummeted last year as lockdowns slashed demand for fuel. Oil and gas workers are still among the highest paid in the world, but a majority of workers felt a decrease in job security.
See Bozorgmehr Sharafedin, Reuters, January 12, 2021