South African petrochemicals company Sasol Ltd. has cut 1,500 jobs and said more will go, the latest layoffs in a global oil sector contending with the commodity’s price rout. Head count at the company will be “dramatically down” by June, with Sasol pressing ahead with steep cuts in capital spending and a reduction in its annual dividend, Chief Executive David Constable said. But Mr. Constable said the scale of the industry’s cutbacks are such that they might catapult oil prices higher again in 2017 after their roughly 50% slide since last summer. “The capital projects that we’re cutting back on—that the majors are cutting back on—these projects take years and years to start back up. You don’t flip the switch,” he said in an interview. “That’s what could give you a high-side well above 100 [dollars a barrel],” he said. Sasol itself has “put on the shelf…until further […]