More bad news for the oil-and-gas industry.

The Wall Street Journal reports that “unrelenting oil price weakness” may force the biggest oil companies to make more cuts.

“They are bringing down their costs both operationally and also in terms of capex (capital expenditures), but it’s probably not going to be enough,” said Roberto Cominotto, investment manager at Swiss investor GAM.

According to Swift Worldwide Resources, the oil-and-gas industry has lost 176,000 jobs worldwide this year.