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Oilfield-Contractor Pay Hits Fresh Record as War Spurs Drilling

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Oilfield-Contractor Pay Hits Fresh Record as War Spurs Drilling Wages for oilfield-services workers climbed for a third straight month in May, setting a fresh record as the Iran war drove up crude prices and companies increased drilling. Average hourly earnings for workers who drill and frack wells rose 1.6% in May from a month earlier to $38.01, according to Bureau of Labor Statistics data released Thursday. Pay for the sector, which includes companies such as SLB and Halliburton Co., is up...

Oilfield-Contractor Pay Hits Fresh Record as War Spurs Drilling Wages for oilfield-services workers climbed for a third straight month in May, setting a fresh record as the Iran war drove up crude prices and companies increased drilling. Average hourly earnings for workers who drill and frack wells rose 1.6% in May from a month earlier to $38.01, according to Bureau of Labor Statistics data released Thursday. Pay for the sector, which includes companies such as SLB and Halliburton Co., is up 5.2% compared to a year ago.
Oilfield-Contractor Pay Hits Fresh Record (ORG) War Spurs Drilling Wages (ORG) the Iran war (EVENT) Bureau of Labor Statistics (ORG) SLB (ORG) Halliburton Co. (ORG)
Originally published by Bloomberg Technology Read original →