Oil and gas companies are returning to activity as the price of oil begins a slow climb.

Husky Energy is the latest to ramp up both spending and production, leading to hopes that hiring will be close to follow.

The company said on Tuesday that it will up its capital spending by about half a billion dollars or 24 per cent, and will increase production by 15,000 barrels per day in 2017.

The fresh signs of life for Alberta’s oil and gas industry come after major oil producing states joined OPEC in a deal to cut global oil production starting in January. The markets reacted immediately, with the price of oil leaping over $50 per barrel and staying there. That, added to the recent approval of the Trans Mountain and Line 3 pipelines, has lent the oil patch an almost giddy optimism.

“We've heard several announcements positive for Calgary and Alberta's economy,” said Scott Crockatt, Calgary Chamber of Commerce. “But even beyond that we're seeing thousands of new people start businesses and look at being more innovative and productive.”

Employment agencies are seeing the change as well, with demand for workers in several fields starting to heat up.

“These last few weeks we’ve seen an increase in the number of management positions, and we haven’t seen management roles in years, two years for sure. We have technology sectors, we have health care sectors, we have retail and hospitality have a bit of an uptick, of course it’s December, it could be that, but the management positions is the interesting group,” said Sharlene Massie, About Staffing. “I would say that we are cautiously optimistic.”

Manpower Group is also predicting job growth in the new year, with most employers planning to maintain staff levels and five per cent planning to hire.

While the news is good, Calgary’s mayor says it’s still a good idea to diversify the economy to help get off the roller coaster of relying on commodities.

“This is a deliberate thing we're doing, in order to build the stuff we need anyway but to build it at a time when costs are low and people are unemployed and we have to continue doing that,” said Naheed Nenshi.

As the industry begins to move forward, there is one disappointing trend for consumers. As the price of oil shot up on Monday, so did the price of gas at the pump.