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Energy prices and the Oklahoma City real estate market
 If you follow Oklahoma City economic market conditions you know about how strong of an energy state we are. Oklahoma is awash in oil and natural gas but both have been on a pricing downturn for some time. It hasn't had a strong impact on the Oklahoma City economy but it has hurt at the state level for loss of revenue from taxes, and employment in the drilling areas has been affected. Although oil reached a low of below $30 a barrel it has since climbing steadily. In Oklahoma, once we reach $44 a barrel pricing we become very profitable and companies drill. This week we reached $53 a barrel and since OPEC created a lower quota, it is expected for oil to go to $60. What this creates is help on the state level, and a large bonus for Oklahoma City. Our city is home to three of the largest independent companies in the world, and many mid sized companies. We had a few of the midsize companies go into Chapter 11 but they have emerged stronger and with much reduced debt due to restructuring and the price recovery. What this means for 2017 is a robust economy that was ... more

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