OIL JOBS COULD BE REBOUNDING
United States energy companies could soon be needing labor. Oversupply and a huge oil glut have resulted large layoffs, according to Goldman Sachs. Oil companies will need more manpower to dig wells and carry out drilling. Since 2014, nearly 200,000 jobs have been cut from the oil and gas sector. A report by Goldman showed that, in order to make up the job deficit given current plans for production, the oil and gas need to add anywhere from 80,000-100,000 jobs by 2018. The oil glut came as a result of massive oversupply, when in April 2015, oil production reached a 44 year high at 97 million barrels per day. The oversupply resulted in the layoffs. Jeff Bush, president of oil and gas recruiting firm CSI Recruiting, believes a worker supply shortage is inevitable. Once oil production begins to ramp up, companies will need more workers to carry out all the tasks.