Increased optimism in the oil industry

Oil industry: 50,000 oil jobs disappear in downturn exportsOil industry. Photo Wikipedia

The SR Bank’s economic barometer showed that companies in the oil and gas business are optimistic for the future, and  2018.


On Wednesday, the bank presented its economic barometer for 2018, and noted that oil and gas companies are particularly optimistic, reported Rogaland’s newspaper.

Over 600 companies responded to the survey, and over 60% of them are optimistic about developments in 2018.

‘The oil and gas industries are the most positive. Almost 70% expected activity and growth to be profitable. This means more employees.

We didn’t believe it, but oil jobs are on their way back. It’s gratifying, surprising and impressive,’ said Kyrre Knudsen, chief economist at SR-Bank.

In total, 39% said that they are not particularly optimistic.

‘It doesn’t look as bright for the whole industry, but the cycle is different for the different segments of the industry,’ said Minister of Oil, Terje Søviknes of Fremskrittsparti (Frp).

According to Dagens Næringsliv newspaper, one must return to 2013 and 2014 to find the same kind of optimism, and then the index was actually slightly below what it is today.

‘At that time, we are talking about an oil price that was far higher than it is now,’ said information director, Thor-Christian Haugland, of SR-Bank.

© NTB Scanpix / Norway Today