In a large bowl, whisk together mayonnaise, beaten egg, Dijon mustard, Worcestershire sauce, Old Bay seasoning, chopped parsley, lemon juice, salt, and pepper until smooth.

Add panko breadcrumbs to the wet mixture and stir to combine.

Gently fold in drained crab meat with a rubber spatula, being careful not to break up the lumps. Stop mixing as soon as just combined.

Form mixture into 8 equal patties, each about 1-inch thick. Place on a parchment-lined baking sheet.

Refrigerate patties for at least 30 minutes, or up to 4 hours, to firm up before cooking.

Heat butter and oil in a large non-stick or cast-iron skillet over medium-high heat until butter foams without browning.

Carefully place 4 crab cakes in the pan, leaving space between them. Cook for 4-5 minutes per side until deep golden brown, flipping only once with a thin fish spatula.

Transfer cooked crab cakes to a wire rack to drain. Repeat with remaining patties. Serve immediately with lemon wedges.