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CALGARY – A tough week in the Canadian oil patch continued Wednesday, as ConocoPhillips Co. became the latest in a string of oil companies to lay off staff. The Houston-based energy major trimmed its Canadian headcount by 7% or about 200 employees.

Company spokeswoman Kristen Ashcroft confirmed Wednesday the ConocoPhillips Canada employees would be let go by the end of March. “It’s related to the challenging economic environment,” Ms. Ashcroft said. “We had to make some difficult decisions.”

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ConocoPhillips’ move follows cuts at Talisman Energy Inc. and Nexen Energy ULC, both of which announced hundreds of layoffs on Tuesday in response to collapsed oil prices.

Oil prices hit another six-year-low on Wednesday morning, as the West Texas Intermediate benchmark price fell to US$42.24 per barrel before finishing up 2.8% on the day, at US$44.66.

Major oil producers have been laying off staff as a result of the slide.