Oil market recovery means economic recovery for Oklahoma

6 Oct 2017   USA

Recovery in the market for crude oil has led to sustained economic recovery for the shale-rich state of Oklahoma, the state treasurer said. “Economic momentum in the state is going up,” State Treasurer Ken Miller said in a statement . “In September, gross receipts show increased income and consumption, attributable at least in part to increased oil field activity during the past several months.” The price for West Texas Intermediate, the U.S. benchmark for the price of oil, has been relatively bound in the upper $40 to lower $50 per barrel range for the better part of a year. The price slipped, however, to below $30 per barrel in early 2016 and put strains on the economies of shale-rich states like Oklahoma. Oklahoma […]

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