- Associated Press - Tuesday, June 13, 2017

CASPER, Wyo. (AP) - Low oil prices continue to stifle activity in Wyoming’s oil industry.

Benchmark prices are lingering under $50 a barrel. Wyoming producers say they can manage above $50 but sustained low prices can slow down production and exploration.

Steve Kirkwood of Casper-based Kirkwood Oil and Gas says he’s holding off on new drilling in older oil fields right now.

The Casper Star-Tribune reports (bit.ly/2rrtA3h) analysts are divided on what will happen with crude prices from here. Some are bullish but others including Phil Flynn with Price Futures Group in Chicago are more bearish.

Flynn says improved efficiencies are allowing U.S. oil companies to produce at lower prices than they used to but probably not below $45.


Information from: Casper (Wyo.) Star-Tribune, https://www.trib.com

Sign up for Daily Newsletters

Manage Newsletters

Copyright © 2021 The Washington Times, LLC.

Please read our comment policy before commenting.


Click to Read More and View Comments

Click to Hide