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Live Commodities
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Apr 24
81.95
82.55
82.74
81.68
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05:53:59 | Energy
Apr 24
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05:53:59 | Energy
Mar 24
1.711
1.712
1.716
1.679
+0.135
+8.57%
05:53:52 | Energy

TIPRO NEWS RELEASES AND STATEMENTS

TEXAS UPSTREAM EMPLOYMENT INCREASES BY 1,500 IN JULY

Austin, Texas – Today, the Texas Independent Producers and Royalty Owners Association (TIPRO) highlighted updated employment figures for the Texas upstream sector. According to the Current Employment Statistics (CES) report from the U.S. Bureau of Labor Statistics (BLS), Texas upstream employment for July 2021 totaled 175,100, an increase of 1,500 jobs from June, and the third consecutive month of job growth since April, subject to revisions. Texas upstream employment in July 2021 represented an increase of 15,800 positions compared to July 2020, which reflects a rise of 17,000 jobs in the services sector and decrease of 1,200 jobs in oil and natural gas extraction.

“We believe the spread of the Delta coronavirus variant will impact the near-term pace of recovery to some degree, including Texas oil and natural gas job growth, but data suggest that vaccinations, natural immunity and public caution will help keep the latest variant at bay and avoid the major economic disruptions we experienced previously,” said Ed Longanecker, president of TIPRO. “We continue to anticipate a strong recovery in world oil demand this year and further growth in 2022. Prominent U.S. producers will maintain a highly disciplined approach to their production goals and we can expect OPEC to do the same in efforts to reach and maintain global supply demand equilibrium,” added Longanecker.

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