Oil - Industry

The Oil Industry or Petroleum Industry is one of the largest sectors in the world in terms of dollar value, generating an estimated $3.3 trillion in revenue annually. Considered as a global powerhouse with hundreds of thousands of workers worldwide while generating hundreds of billions of dollars globally each year, Oil is crucial to the global economic framework, especially for its largest producers: the United States, Saudi Arabia, Russia, Canada and China. Broken down into three segments: upstream, midstream, and downstream, drilling companies contract their services to E&P companies to extract oil and gas. Well-servicing companies conduct related construction and maintenance activities on well sites.