OPEC Secretary-General Haitham Al Ghais underscored the pivotal role of the oil and gas industry in the global job market. In a statement, he revealed that the oil industry supports approximately 70 million jobs worldwide. Al Ghais’s remarks shed light on the extensive reach of the industry and its substantial contribution to national economies across the globe.
Al Ghais also emphasized that jobs within the oil industry encompass a wide spectrum, ranging from high-skilled positions to roles throughout the entire supply chain. This includes employment opportunities in manufacturing, transportation, hospitality, and retail sectors, illustrating the sector’s multifaceted impact on global employment.
However, Al Ghais also addressed challenges facing the industry, citing projections from the International Energy Agency (IEA)’s Net Zero Roadmap 2023. According to the IEA, the fossil fuel industry could lose 13 million jobs between 2022 and 2030. This equates to approximately 1.6 million jobs annually or 4,500 jobs daily.
Despite these projections, Al Ghais reiterated The Organization of the Petroleum Exporting Countries’ (OPEC) unwavering stance on the importance of employment within the oil industry, stating, “The world needs more of them”.
Read: U.S. refiners’ profits set to fall in Q1 of 2024, margins remain strong
Moreover, Al Ghais anticipates a rise in oil demand to 116 million barrels per day by 2045. Therefore, he emphasized the necessity for additional workers to support the growing demand. Even as the industry embraces emissions-reduction technologies, the demand for labor will grow to meet the needs of a continuously evolving sector.
For more news on energy, click here.
