Oklahoma’s oil and gas economy is showing the first signs of growth in nearly two years. The good news comes courtesy of an energy index used to track movement in the energy economy.
AsNews 9 Oklahoma reports, data collected in May showed a three-point increase in the index over the previous month. Before May, the index hadn’t shown growth since October of 2014.
But Oklahoma City University economist Russell Evans still urges caution. He says sluggish commodity prices last month combined with Oklahoma’s recently hapless economy could further hinder growth. He added that a “particularly tumultuous U.S. election season” isn’t helping matters. The Oklahoma Energy Index is a joint project of the Oklahoma Independent Petroleum Association, Bank SNB and researchers at Oklahoma City University.