How Many Jobs Are Available In Oil & Gas Production

Last Updated on March 20, 2023 by

Are you interested in a secure career with consistent job growth prospects? If so, oil & gas production may be the right field for you.

Producing hydrocarbons is an ever-growing demand that has potentially lucrative returns and offers abundant jobs—but just how many are there?

In this blog post, we’ll show you the numbers behind oil & gas production and explore what kind of opportunities are available within this expanding industry.

Take advantage of your passion by reading on to discover if oil & gas production is the perfect fit for your future today!

How Many Jobs Are Available In Oil & Gas Production

How many jobs are available in oil & gas production?

The Oil & Gas production industry is a major contributor to the US economy, with roughly 10 million jobs supported across the nation.

In 2021 alone, it employed around 113,000 individuals and was responsible for 5.6% of all US employment.

Moreover, projections for 2025 estimate that the number of positions supported could expand to 3.9 million.

In addition to this, it is also estimated that thousands of jobs are sustained by the oil and gas industry as an indirect effect.

Therefore, if you’re looking for a new career path, this sector can provide a variety of options – from entry-level positions to those requiring advanced qualifications.

Is there a shortage of oil workers?

With the current advancements in technology, it is impossible to deny that the oil industry is facing a shortage of workers.

In fact, the situation is becoming increasingly dire as new technologies take away many of the positions for which people traditionally could get hired.

Companies have had to resort to ever-creative means to recruit much-needed labor into their services, from extending workplace benefits to offering flexible hours or positions.

However, these solutions are only slowing down the inevitable: machines and artificial intelligence are rapidly being introduced en masse in oil facilities everywhere, leading us all inevitably towards an era of automation.

Is there a demand for oil and gas?

The question of whether or not there is still a demand for oil and gas is something that needs to be answered in our modern society.

While it’s true that the use of renewable energy resources has become more widespread, we cannot ignore the fact that oil and gas still have an important role to play.

Despite decreasing use when compared to other sources of energy, it is clear that these fossil fuels remain essential components of certain industries such as transportation, agriculture, and even manufacturing.

Unless drastic changes are made to these sectors, then the need for oil and gas will obviously remain strong.

How many people work in oil and gas globally?

Oil and gas remain integral aspects of the global economy and society, yet not many people are aware of their importance. No matter the region, continent, or country, millions of people are working in oil and gas around the world.

An analysis conducted using workforce data from 2019 places the number at approximately 10 million people employed across the entire oil and gas industry.

From geoscientists to well-site supervisors and engineers, every professional plays an important role in exploration and production related to this sector.

If we include workers associated with downstream companies as well, this number could increase significantly.

With such a large portion of the workforce deeply integrated into the process, it is imperative that these professionals continually receive the support and resources necessary for maximizing efficiency and potential.

How big is the oil and gas industry in the US?

The US oil and gas industry is a giant, having a major impact on the American economy. It’s estimated that the industry contributes more than $983 billion annually to the country’s GDP, and is responsible for supporting over 10 million jobs in 2019 alone.

In terms of production, the United States is the only country in the world that produces more than 80 percent of its own energy needs – meaning it produces more oil and gas than Saudi Arabia and Russia combined!

As such, this industry plays an essential role in powering economic development, both now and in the future.

Oil and gas industry employment statistics 2022

In December 2022, the Global Oil and Gas Sector saw an impressive 17.33% month-over-month increase in active job postings, bringing the total to 60,281.

This was a 10.4% surge since September of the same year. This surge in job availability indicates a prosperous period of growth for this industry.

There was an increase of 23.44% in the number of job openings compared to the preceding month, with 24,538 opportunities becoming available.

Conversely, 15,636 job postings were removed – 22.22% fewer than in November – indicating a decrease in the number of roles being advertised.

When looking at the period from September 2022 to December 2022, the number of job openings rose by 0.67%, whilst the number of positions removed declined by 25.04%.

Between September and December of 2022, the Compound Monthly Growth Rate (CMGR) of newly posted jobs was 0.22%, while active job postings saw a 3.35% growth rate and closed jobs experienced a decline at 9.16%.

During this period, an average of 22,824 new jobs were added, 20,525 jobs closed, and 54,466 active job postings were recorded.

How many jobs does the oil industry provide worldwide?

The oil industry is a vital part of the global economy, providing millions of jobs around the world. Despite fluctuating prices in oil markets, the sector continues to be an extremely important source of employment, contributing unique and valuable benefits to individuals and economies.

The exact amount of jobs provided by this industry is difficult to ascertain due to its widespread nature but various sources estimate that it employs close to two million workers directly, and billions more indirectly, in over 100 countries spanning every region on earth.

Clearly, the positive economic effects of such employment opportunities far outweigh any drawbacks; as a result, governments are continually investing resources in renewable energy sources – more research and development are needed for them to replace oil industry jobs at a meaningful scale.

It is clear that the oil and gas industry plays a critical role in powering economic development, both now and in the future.

The immense size of this sector has created millions of jobs worldwide, providing unique benefits to individuals and economies alike.

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