Are oil and gas jobs coming back?

edited February 11 in Job Searching

So, it seems that the price of oil has stabilized for quite a while now at over $60 Bbl. We've seen in the news about some oil companies posting large profit increases. The US onshore market has stayed busy all through the crash, but me and some mates have really suffered these past couple of years. We're expat consultants and haven't benefited from the stability in Texas or some of the Middle Eastern countries.

So, my question is: Are oil and gas jobs coming back?

If so, how long until everyone feels the benefit of an industry upturn? I know that these questions are difficult to answer, and it will be geographically based. I'd still appreciate any input from the community. This does seem like an important topic!

Comments

  • Hi Johnny. To be honest there is still a lot of suffering. Those that have stayed in work throughout the crash don't really know how lucky they are, and often really don't appreciate their fortune. Jobs are being created, but it's increasingly a 'gig economy' where contracts are short, and day rates are 50% of what they were a few years ago. People are drifting back into work, and there is a glimmer of hope that the overall situation will gradually improve. It's not all positives though; the pool of unemployed remains large, and service companies are squeezed to the point where profit is hard to achieve. Equipment inventories are at an all-time low, hiring freezes remain in place, and morale is rock bottom - which created the perfect storm just waiting to wreak havoc on any sustained recovery. Having said all this, it is good to see that the industry appears to be on the path towards recovery.

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