Economist Makes Predictions For 2016 Outlook In Oklahoma City

Tuesday, February 2nd 2016, 3:58 pm
By: Karl Torp

The city's economist is now making predictions in the wake of tanking oil and gas prices.

He said the goal this year is all about survival.

“If we can get through the year without any global crisis in China developing, or a U.S. recession developing, Oklahoma City would be OK. But those are a bunch of ifs,” Oklahoma City University’s Russell Evans said.

Evans thinks Oklahoma City's economy can grow by 1 percent this year. Under current circumstances, that would be welcomed news to city leaders.

One year ago, Evan's forecast of 1,000 salaried oil and gas jobs lost became 3,000.

His prediction of $65 per barrel oil in 2016 now appears to a pipe dream.

So in this year, the definition of success is changing.

“Oklahoma City is not in trouble. But trouble is lurking behind every corner,” adds Evans.

Evans said realistic success would be to have oil in the $35 to $40 per barrel range for the year and no global crisis.