Oklahoma treasury collections down compared to last year

Oklahoma’s treasurer says overall collections to the state treasury last month are down about 2% compared to November 2019.

That’s due in large part to slumping oil and gas tax collections. State Treasurer Randy McDaniel reported Monday that November’s gross production tax collections were down by more than 50% compared to November 2019.

McDaniel noted oil and natural gas prices, production and employment have all slumped over the last two years. Overall collections to the state treasury in November were $970 million, a dip of about $19 million, or 2%, compared to November 2019 collections.