Oil & Gas: employment is increasing in the sector, but uncertainty remains
The global Employees around the world are receiving conflicting information about job prospects in the oil and gas sector as some experts believe that the current geopolitical situation will increase employment data, while we are also witnessing job cuts. With a possible green transition that seems inevitable, many are concerned about their work, but as OPEC and other countries increase their oil production, will we see growth in the oil and gas labor market before any decline? The pandemic has led to the reduction of hundreds of thousands of jobs in the oil and gas sector worldwide, because the demand for crude oil has collapsed and many energy companies have failed. With demand returning to pre-pandemia levels and the huge investments made in the oil and gas sector, before a green transition, the labor market should improve. A Rystad Energy report predicts that oil and gas employment in the United States in 2022 will increase by 12.5%, adding between 100,000 and 125,000 jobs across the industry. With American energy companies increasing production to meet the growing global demand, especially in response to Russian oil sanctions, the need for engineers and other skilled oil workers is clear. Although the rise in inflation will somehow limit the growth of the labor market.