Energy industry report highlights more bad news for Oklahoma
Ponca City Now - January 6, 2016 8:54 am
OKLAHOMA CITY (AP) – A new report from the state’s energy industry is highlighting more bad news resulting from the slide in oil and natural gas prices.
The Oklahoma Energy Index that measures the state’s energy economy was released on Tuesday and shows the industry is continuing its downward trend.
The index data collected in November shows a 3 percent decrease in activity from the previous month and a 27 percent slide from the same time a year ago.
The index is a joint project of the Oklahoma Independent Petroleum Association, Stillwater-based Bank SNB and the Steven C. Agee Economic Research and Policy Institute at Oklahoma City University.
Institute director Russell Evans expects even more job losses and says "the worst of this economic period still lies in the future."
