Oil Industry Jobs Support 70 Million Jobs Worldwide, According To OPEC’s Secretary General

(CTN News) – In his address to the OPEC Oil Industry Secretary-General on Thursday, Haitham Al Ghais underscored the importance of the oil and gas industry in creating jobs in the global economy.

He revealed, in a statement, that the oil industry is responsible for supporting approximately 70 million jobs around the world. He brought to light the extensive reach of this industry and its substantial contribution to the economies of nations throughout the world as a result of Al Ghais’s remarks.

In addition, Al Ghais pointed out that jobs within the oil industry encompass a wide spectrum, ranging from high-skilled positions to sales and marketing roles throughout the entire supply chain.

As a result, employment opportunities are available in several sectors, including manufacturing, transportation, hospitality, and retail, illustrating the sector’s multifaceted impact on global employment.

However, Al Ghais also addressed the challenges facing the industry, citing projections from the International Energy Agency (IEA)’s Net Zero Roadmap 2023, a roadmap designed to ensure the industry becomes net zero by 2023.

In addition, the IEA predicts that the fossil fuel industry will lose 13 million jobs between 2022 and 2030 as a consequence of climate change. In other words, approximately 1.6 million new jobs are created every year, or 4,500 new jobs every day.

Although these projections were made, Oil Industry Al Ghais reiterated that the Organization of the Petroleum Exporting Countries (OPEC) had remained unwavering in their stance on the importance of employment within the oil industry, asserting, “The world needs more people in the oil industry”.

By the year 2045, Al Ghais predicts that the demand for oil will rise to 116 million barrels per day, an increase of almost 20% over the present demand of 98 million barrels per day.

Nevertheless, he stressed that as the industry continues to grow, there is a need to add additional workers to support the growing industry in order to satisfy the growing demand.

Despite the fact that the industry embraces emission-reduction technologies, it is important to remember that the need for labor will continue to be a growing issue in order to meet the needs of a constantly evolving industry that embraces emission-reduction technologies.

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