OPEC Boosts 2012 Demand Estimate – Good News for Job Seekers

December 21st, 2011

As the Organization of Petroleum Exporting Countries (OPEC) ups its 2012 estimate for the demand for crude oil worldwide for a second month in a row, this is positive news for the thousands of energy and IT engineers seeking work in the coming year. Supply for crude oil and associated oil and petroleum based products is expected to supply both American and foreign need for more staff to handle the complex processes needed to produce consumer products. However, this may not be great news for some in the manufacturing and transportation sectors – two industries hit hard by the economic recession.

The OPEC forecast was recently the topic of a Bloomberg Report, that stated, “OPEC will need to produce 30.1 million barrels a day to balance global crude supply and demand”, according to the group’s secretariat. “That’s up 100,000 barrels a day from its forecast last month. OPEC cut its global demand forecast for 2012.” OPEC officials further went on to say, “Economic turbulence is shaking oil demand as the slowdown hits manufacturing activities worldwide.” We can only hope that the interest of developing less expensive, more plentiful energy sources leads to more jobs for millions of deserving workers around the globe.

For engineers and IT professionals, the career outlook is positive, in light of President Obama’s recent American Jobs Act speech  that put the focus on creating more jobs by making improvements to the educational system to produce more skilled engineers and IT workers over the coming decade. America has yet to catch up to other developed nations, like China and India, in terms of the number of engineers and IT professionals available, but this initiative will encourage those looking for new career opportunities to consider engineering as a viable option.

We need technology to continue growing if we are to stimulate the economy, so OPEC’s projections confirm that the demand for qualified workers is critical for long term growth and to keep up with industry demands. According to OPEC, “Oil demand will average 88.9 million barrels a day next year, about 100,000 barrels less than its previous forecast, as demand growth in China and India slows, it said. Consumption will average 87.8 million barrels in 2012.” While America struggles to find alternative forms of energy, it’s clear our love affair with gas-powered vehicles and equipment will continue to create jobs in the New Year.

Looking for an engineering, IT or other energy related job for 2012? Consider working with the career experts at Stark Talent for great opportunities!