Business & Finance
Oilfield-Contractor Pay Hits Fresh Record as War Spurs Drilling
Key Points
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.