Forecast: Petroleum and Natural Gas Extraction Support Activities Hours Worked in Italy

In 2023, the Petroleum and Natural Gas Extraction Support Activities in Italy logged 2.5682 million hours worked. The forecast from 2024 to 2028 shows a consistent decline, with hours worked decreasing year-on-year by approximately 1.3% in 2025, 1.2% in 2026, 1.2% in 2027, and 1.1% by 2028. This suggests a compounded annual growth rate (CAGR) of -1.17% over the five-year period.

Future trends to watch for include:

• Technological advancements potentially leading to increased efficiency and reducing manpower needs.
• Policy changes or geopolitical factors that could impact production levels or operations.
• Shifts in global energy demand towards renewables possibly diminishing traditional extraction activities.