Oil workers will be going back to work, 700 rigs firing up

in Canada/Other News/USA by

It’s been the worst year in our generation with oilfield work, there have been no jobs for the past year, many workers have taken up different careers and are happy where they are, but many are still waiting to go back to work.

You’re about to get some good news though, there’s still hope, it’s just after spring breakup in western Canada and the demand for oil is growing.

Analysts at Goldman Sachs said the oil industry is on the verge of a turnaround after oil supply gluts earlier this year wreaked havoc on the industry.

The the oilfield continues its fight to go back into the market after a year long oversupply and thousands of lost jobs, the demand for workers will be as high as 100,000 by 2018, in addition to that there’s will also be a demand for 700 drilling rigs say analysts at financial institution Goldman Sachs.

Boe Report  reports:

 Jeff Bush, president of energy firm CSI Recruiting, mirrored the institution’s sentiments, suggesting that a “worker shortage” disaster is in the making.

“When we get back to a reasonable level of activity, there’s going to be a supply crisis of experienced personnel. I just don’t see any way around that,” Bush told reporters.

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.

Although this is good news, there have been more than 100,000 oilfield workers laid off over the last year, Alberta seen 100,000 laid off alone, what about the rest of Canada and United States?

The oil boom that’s about to come will continue to grow and we can only hope we don’t get another oversupply anytime soon.

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