- Associated Press - Thursday, August 11, 2016

OKLAHOMA CITY (AP) - An energy index designed to measure the state’s oil and natural gas economy is showing the first signs of growth in nearly two years.

Officials with the Oklahoma Energy Index say data collected in May showed a three-point increase from the previous month. That’s the first time the index has shown growth since October 2014.

Despite the growth, Oklahoma City University economist Russell Evans wans that a downturn in commodity prices last month combined with concerns about the economy in general could hinder growth in the industry.

Evans says some of the U.S. economic concerns could be a reflection of a “particularly tumultuous U.S. election season.”

The Oklahoma Energy Index is a joint project of the Oklahoma Independent Petroleum Association, Bank SNB and researchers at Oklahoma City University.

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