Oklahoma revenue continues to fall amid coronavirus pandemic
June 12, 2020
OKLAHOMA CITY (AP) — Revenue collections in Oklahoma continue to fall below projections as the state starts to reopen businesses that were stalled due to the coronavirus pandemic.
The state Office of Management and Enterprise Services reported revenue collections in May of $490.1 million — $65.5 million, or 11.8%, below estimates and $83.8 million, or 14.6%, below May 2019 collections.
"May's revenue collections shortfall was expected, as continual losses suffered by the oil and gas industry negatively impact the state," OMES Director Steve Harpe said in a statement Tuesday.