Local oil workers cautiously optimistic about OPEC decision - KWES NewsWest 9 / Midland, Odessa, Big Spring, TX: newswest9.com |

Local oil workers cautiously optimistic about OPEC decision

Pumpjack in the Permian Basin (Source: KWES/File Video) Pumpjack in the Permian Basin (Source: KWES/File Video)
MIDLAND, TX (KWES) -

There's a lot going on in the world of oil.

Wednesday, OPEC approved the move to cut back on production, causing crude oil prices to jump up within hours. 

Patriot Premium Services facility manager Jesse Ruiz who said, though things are down, they should be looking up soon.

"It could be the beginning of the end and it could be the beginning of another one," said Ruiz of the two-year bust the industry is currently experiencing. "You know, just like we're used to out here in West Texas. I would say get ready. I would say people are going to start seeing more hiring, more products coming in here into the area."

Ruiz said he expects change to also happen out on the field, in the form of more overtime and potentially more hires.

"Because more activity, more rigs drilling, means more hours in the field for them," said Ruiz. "So yes, they're going to see a difference in overtime. We expect more products coming in here from everywhere."

Ruiz, who's been in the business for a while now, said he felt a type of relief when he found out about the decision. 

"When OPEC reached the deal, it was a good feeling overall because we know that we're looking for some sort of stability in that oil price. and if we can see that oil price stable out, I'm thinking people will go to work out here if it stays between 50 and 60 and even higher."

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