Higher crude oil prices led to increased revenue in April for Oklahoma



Oklahoma Treasurer Todd Russ reported the April gross production tax for Oklahoma saw a nearly 10% gain from March.

He indicated the GPT totaled $90.7 million in revenues for April. It represented an overall increase for the month of $8 million or 9.6%.



The Treasurer attributed the gain to increased crude oil prices and a continued growth in the number of drilling rigs in the state. Higher oil prices spurred increased drilling.

West Texas Intermediate crude prices, the U.S. benchmark, were up $4 for April from March and it was the second consecutive month that prices has grown.

Oklahoma’s average rig count for April totaled 44.