Oil and Gas Industry Witnessing Rise Oil and gas industry is all set to make its comeback after two years of declining prices. The job sector of oil industry has also suffered a major setback. However, it seems that the industry is gradually making a comeback in Texas and all across the globe. According to the report stated by Morgan Stanley, “The exploration and production (E&P) outlook is attractive.” The report further added, “Energy sentiment has improved from two months ago, as the oil supply and demand balance has tightened and revisions turn positive.” The report also stated, “Expectations for U.S. oil production growth have also been tempered, as the U.S. E&P industry faces execution challenges from tighter services markets and also feels investor pressure for improved capital discipline. Morgan Stanley report also added, “OPEC remains committed to production cuts, with steadily improving (and high) compliance. Simultaneously, global oil demand growth continues to surprise to the upside, and is on trend to continue to significantly exceed the historical average into 2018.” It further added, “Investor interest has increased, though many remain unconvinced about the sustainability of the current rally. We believe that fundamentals appear to be the strongest they have been since the start of the downturn and, in our view, capable of underpinning some increase in long-term oil price expectations.” In Texas, there is consistent increase in the oil and gas activity in the 10th straight month, as stated by Texas Petro Index. There is rise to 181.4, 21.4 percent higher as compare to the previous year. The economist, Karr Ingham stated, “Crude oil prices in Texas have been the essence of stability for more than a year. He is the one who creates the TPI and updates. He also added, “Demand is beginning to show signs of recovery and foreign oil suppliers led by OPEC appear to be committed to maintaining announced production cuts.” For more information related Oil and Gas Jobs Log on to Petroleague.
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