Oklahoma’s economy pressured, but holding steady

16 Jun 2016   Economy, Shale Oil, USA

The economic outlook for the state of Oklahoma is negative as the revenue stream ebbs as a result of lower oil prices, Moody’s Investors Service says. Moody’s said Oklahoma’s credit rating was strong as conservative fiscal policies offset a broad contraction in the energy sector. “The outlook is negative,” the ratings agency added. Oklahoma is one of the largest oil producers in the United States, hosting some of the more lucrative shale basins in the country. Last week, oil services company Baker Hughes recorded 58 rigs in service in the state. Rig numbers serve as a loose barometer to gauge the health of the energy sector and, for Oklahoma, the number of rigs in service is 45 percent lower […]

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