Crude Oil Climbs To Record High, Its Time To Go To Work!

Posted by | May 26, 2016 | News

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Crude Oil Climbs To record Highs Fulled By Massive Wildfires in Canada and terrorist like attacks in Nigeria. The string of recent events is pushing the price of crude oil to record highs, so get ready for a massive hiring season!

Oil industry insiders are speculating that the low prices that have been seen for gasoline over the last six or seven months may finally be coming to an end. This is good news for those seeking oil field jobs in Texas or for those who already have North Dakota oilfield jobs. It is believed that the recent upturn in prices is only going to increase and that will mean that production will pick back up again.

Over the last 18 months, it appears that Saudi Arabia and others were driving the price of crude oil down in an attempt to stymy the U.S. Oil market. For years, America was dependent upon foreign crude for consumers and for strategic reserves, but the oil boom in North Dakota led to a revival of oil extraction in America, which eventually led to the increase in oil extraction in Texas as well. This led to many Texas oil field jobs as well as oil rig jobs in Texas.

Ten years ago, Americans only used four percent of oil from the United States, but that number is nearly fifty percent now. That has caused some nations, like Saudi Arabia, to flood the market with oil in an attempt to drive down the price. The theory behind this would be that with lower prices to the sale for the oil, it would not be cost effective for oil companies to continue oil production here in the United States and they would be forced to shut down or at least vastly curtail oil production. That plan appears to have failed.

The increase in gas prices over the last month has increased revenues for the oil companies, and this has led to an increase in production as well. That has a whole lot of people in North Dakota oil field jobs and Texas oil field jobs from worrying that their jobs may be in jeopardy. Better production means great job security and that appears to be the case.

The fact that summer is rapidly approaching means that oil production will be increasing as well, without a drop off in prices at the pump. AAA reports that Americans are much more likely to drive in the summer as kids are out of school. This is the time of the year that many decide to take the family vacation and that is often done by driving.

AAA reports that most people travel no more than 300 miles on their family vacation, making it much more cost effective to drive, since a family can make their destination in five hours even if they stop for lunch or dinner. This makes it so that gas consumption increases especially in July and August, also buoying the hopes that many have for a great summer and improved job opportunities in the oil industry.

In some of the leading financial magazines, they are predicting that oil jobs in Texas and North Dakota may be on the rise in the next four weeks as the need for greater production will be increase. They further add that up to forty percent of those who are hired in those positions will likely remain in those positions once the summer has ended.

Industry experts explain that Texas and North Dakota oilfield jobs have become great summer employment for college students who want to make good money while away from school while also having a unique adventure. When the summer ends those students go back to

school, but many of these workers remain to keep working there and find that there are positions that are still available for them.

Regardless of employment circumstance, it looks like it will be a good summer for those looking to work in the oilfields.