Oil and gas economy up 25% according to Texas Petro Index

World Oil | Staff
According to the Texas Petro Index, oil prices jumped more than $6/bbl in January compared to December.
Oil and gas producers in Texas kicked off the New Year with a bang, propelling the Texas Petro Index upward for the 14th straight month by continuing to increase production in response to higher wellhead prices. At 192.7 in January, the TPI was 25% higher than in January 2017 when the TPI stood at 153.7 and up more than 30% than in November 2016 when the TPI stood at 148.2. “The statewide upstream oil and gas economy remains in a state of expansion with generally favorable pricing, a slowly rising rig count, growing industry employment, and record crude oil production,” said Ingham, the economist who created the TPI and updates it monthly.
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