Goldman Sachs believes the American oil industry is about to stage a big comeback from the painful downturn and big job losses caused by oversupply, CNN reports. Cheap oil eliminated nearly 170,000 oil and gas jobs since late 2014 as companies scrambled to cut costs and avoid bankruptcy. That means just to keep up with the expected ramp-up in drilling activity, the oil and gas industry would need to add 80,000 to 100,000 jobs between now and the end of 2018, Goldman predicted.