Oklahoma City has a bright economic outlook, according to its lead economist.
“In previous years, there was uncertainty in the data. That's not the case this year,” said economist, Russell Evans
Evans gave his financial forecast to OKC City Council during a budget workshop Tuesday.
“Both of the things that were turned against Oklahoma, the weakness of the oil and gas sector, tacked on to the weakness in the US economy, both have turned the other direction,” said Evans.
Evans feels by the end of 2017, the price of oil should be $58 a barrel. Right now, the price is $5 cheaper.
The Oklahoma City University Professor says natural gas should be at least $3 by the end of the year.
In four to five months, Evans says OKC will begin to see improved sales tax revenue and employment is expected to grow at least one percent.
“Oklahoma will feel much, much better at the end of this year than we have felt in a long time,” added Evans.