as they worked to ramp up production coming out of the pandemic. Those issues were exacerbated in February when Moscow invaded Ukraine, resulting in sanctions that cut off the supply of Russian oil. However, the war also pushed oil prices to multi year highs, resulting inMeanwhile, the U.S. economy has seen steep inflation this year and fears of an economic downturn have grown.
The oil and gas industry is no different, and also finds itself competing more and more with technology companies as energy firms adopt advanced digital tools in the oil patch.surveys around 200 oil and gas firms located in Texas, as well as southern New Mexico and northern Louisiana, and publishes the results along with company comments.
“The biggest challenge for us is adding employees,” one exploration and production company told the Dallas Fed. “We are trying to add qualified staff, with little success, and that will negatively impact growth.”
Presumably the social media team is frozen at home?