Oklahoma treasury collections fall 5% in August amid oil dip
September 4, 2020
OKLAHOMA CITY (AP) — Overall collections to the state treasury last month were nearly 5% below collections from August 2019, driven mostly by a slump in oil and gas prices, Oklahoma Treasurer Randy McDaniel said Friday.
The decline in August marked the fifth month since February that total receipts were lower than those from the same month in the prior year, McDaniel reported.
Tax collections from oil and natural gas production fell by 46.3% from, or $35.1 million, from collections in August 2019. It marks the 12th consecutive month that gross production receipts were less than the same m...