Oklahoma's state treasurer says falling crude oil prices could darken an otherwise bright revenue picture for the state.
Treasurer Ken Miller said Wednesday that state revenue was up almost 4 percent in October compared to the same month a year ago. Revenue during the past 12 months shows growth of almost 5 percent.
But Miller says collections from oil and gas production exceeded the prior year by only one-tenth of one percentage point and reflects recent lower prices.
That compares to an increase of almost 15 percent in gross production collections during the past 12 months.
Miller says soft oil prices could impact the state's revenue forecast. He says the spot price for crude oil was about $78 a barrel on Monday. In August, it was more than $96.
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