State Economist weighs in on oil production in Wyoming

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CHEYENNE, Wyo (Wyoming News Now) Production is up 15 percent from last year.

In 2019 he says prices for crude oil are weaker than 2018, adding there may be some concern that the u.S. Is producing too much oil given the demand.

But looking at just one indicator can be misleading, he says, and even though crude oil prices are down.

Most of the other indicators he’s looking at have improved.

Jim Robinson, the Wyoming State Economist, said “I don’t see the boom that you sometimes see associated with the oil. And I don’t see the bust. What I’m seeing, for the most part, is still very very stable, stable growth.”

He says the growth that the state has seen over the past couple of years has been fairly sustainable.