This week has seen one oil company after another announce major layoffs. The oil curve is within sight of flipping and wholesale gasoline prices are only a penny above their lowest since 2021. Why? The answer was all over ADP's private payroll report for September. 

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ADP 
https://adpemploymentreport.com/

IEA Oil Market Report August 2025
https://www.iea.org/reports/oil-market-report-august-2025

HRD Imperial Oil, ExxonMobil announce major layoffs for Canada amid global restructuring
https://www.hcamag.com/ca/news/general/imperial-oil-exxonmobil-announce-major-layoffs-for-canada-amid-global-restructuring/551612

Dow Jones TotalEnergies to Cut Costs While Boosting Oil, Gas Output Through 2030 — Update
https://www.morningstar.com/news/dow-jones/202509296462/totalenergies-to-cut-costs-while-boosting-oil-gas-output-through-2030-update

Fox Business Exxon to slash thousands of jobs
https://www.foxbusiness.com/media/exxon-slash-thousands-jobs-major-corporate-overhaul-comprehensive-restructuring-plan

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