Texas Oil Companies gearing up Huge Hiring Expansion! $50 Price finally Busted

Posted by | 05/26/2016 | Oil News

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The Texas Oil and Gas Industry is gearing up for a huge oilfield job hiring increase. Oil has finally breached $50!!

The price of crude oil is steadily rising each day. We’ve passed the bottom and are now on the way up, and there’s no stopping it, not even Saudi Arabia this time. The Texas Oil and Gas Industry is about to go into an all out oil boom. What’s this mean? This means those of you that want to work will have a job wherever you want. The state of Texas is already preparing for a massive oil boom. It could very well make the previous one look like it was just a practice run for what’s about to happen.

What’s Causing The Sudden Shift In Oil Prices?

Exactly as we predicted in our previous articles, U.S. Crude inventory levels are now being drawn down rapidly. The chips are now in play, and the Texas Oil and Gas Industry is about to go all in.

Disruptions to production and pipelines, primarily in Canada and Africa, cut supply by about 3.4 million barrels a day in May, according to TD Securities. That has traders viewing a market coming into balance, ending a long period of oversupply, said the bank’s head of commodity strategy, Bart Melek.

This rally is just the tip of the iceberg. According to New York Energy hedge fund Again Capital, we’re about to see new high’s over an over.

We further expect the price of crude oil to rally even higher. At this point in the game, there’s no stopping the incoming oil boom.

The move above $50 was seen as a key moment by many analysts, providing a psychological boost to a market that has been trading below that level for seven months now. Sentiment has become much more bullish since oil prices fell to a decade-low below $30 a barrel earlier this year.

As long as oil stayed below $50, SEB Markets clients believed the price would fall back down to around $45, said Bjarne Schieldrop, SEB’s chief commodities analyst.

“Now we have $50 that is the reference point,” he said. “So when it dips below 50, that will be seen as a buying opportunity.”

Thursday’s gains came after inventory data released by the U.S. Department of Energy on Wednesday showed a 4.2 million barrel reduction in oil stocks. Analysts polled by The Wall Street Journal had expected a decrease of only 2.5 million barrels.

Oil prices ended slightly lower Thursday after briefly rising above $50 a barrel in intraday trading, as investors considered whether higher prices could unlock more output in an already oversupplied market.

U.S. crude for July delivery fell 8 cents, or 0.2%, to $49.48 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, slipped 15 cents, or 0.3%, to $49.59 a barrel on ICE Futures Europe.

Both benchmarks had topped $50 a barrel earlier Thursday.

The Eagle Ford and the Permian Basin are headed for an all out boom. We can expect things to get back to normal with the continued rise in oil prices. People are still saying oil isn’t going anywhere. Is this enough to change your mind?

Texas is gearing up for an all out boom.  Entry level oil jobs start out just under 6 figures in Texas and if you have previous experience you will be looking at even better pay.

Before you go venturing out, make sure you make proper travel arrangements as there’s going to be a huge influx of oil workers coming from everywhere. Pipelines are being built, there’s tons of refinery work going on, and now the rigs are headed back to the patch. Get yourself ready and share this article with your friends so they know what’s coming.

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