A new Dallas Fed survey finds growing uncertainty in the Texas oil patch. Plus, it found a slight decline in oil and gas production in the state.
The business outlook in the U.S.’ largest oil and gas patch has “deteriorated,” according to a new Dallas Fed survey of producers and oilfield service (OFS) firms.
“The executives are [usually] a little bit uncertain, but this suggests that they’re more uncertain in the latest quarter compared to historically,” said one official with the Federal Reserve Bank in Dallas.
The survey also found that there was a “modest deterioration” as reported by oilfield services firms.
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