Several news sites have cited the recent slight increase oil prices (to over $50) a barrel. Several jobs were lost in the USA and around the world. According to boereport.com, analysts at Goldman Sachs are predicting that some of the jobs that were lost might be coming back.
Analysts at Goldman Sachs claimed Thursday the oil industry is on the cusp of a turnaround after oil supply gluts earlier this year wreaked havoc on the industry. The following is a direct quote from boereport:
As oil fields continues to come back online and the yearlong oil oversupply begins to recover, analysts at financial institution Goldman Sachs argue the oil and gas industry will need to add between 80,000 and 100,000 employees just to keep up with demand by 2018. The increase in growth would also require an additional 700 oilrigs.
Another news source crudeoiljobs.com also predicts an increase in the oil jobs, particularly in Texas.
The price of crude oil is steadily rising each day. We’ve passed the bottom and are now on the way up, and there’s no stopping it, not even Saudi Arabia this time. The Texas Oil and Gas Industry is about to go into an all out oil boom. What’s this mean? This means those of you that want to work will have a job wherever you want. The state of Texas is already preparing for a massive oil boom. It could very well make the previous one look like it was just a practice run for what’s about to happen.
If these claims pan out to be true, what could this mean for the oil industry in the USA? What could it mean for all the other industries that depend on the oil industry?