- Associated Press - Friday, May 6, 2016

OKLAHOMA CITY (AP) - Monthly tax collections from oil and natural gas production in Oklahoma slid to the lowest level in 17 years, totaling just $20.8 million in the month of April.

State Treasurer Ken Miller released figures on Friday that show overall collections to the state treasury in April were $1.18 billion, the lowest April total in four years. It’s about $140 million, or nearly 11 percent less, than collections in April 2015.

Miller says the oil and natural gas receipts are based on production in February, when oil was around $30 per barrel. The price of oil has since rebounded and is trading this week at closer to $45 per barrel.

Miller reported that gross receipts to the treasury over the last 12 months totaled $11.26 billion, the lowest since June 2013.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.


Click to Read More

Click to Hide