Newspaper article THE JOURNAL RECORD

S&P Outlook Report: No Oil Price Rebound This Year

Newspaper article THE JOURNAL RECORD

S&P Outlook Report: No Oil Price Rebound This Year

Article excerpt

OKLAHOMA CITY (JR) - The effects of a strong U.S. dollar and the collapse in oil prices and related oil-sector investment should continue to unfold unevenly across the country in 2016, according to Standard & Poor's Ratings Services annual credit conditions outlook report.

Given the global oil supply glut, S&P researchers said they don't anticipate an appreciable rebound in oil prices throughout the year.

"We expect the ongoing slump will continue to undercut the economies - and potentially the ratings - of some energy producing states to varying degrees," the report states. "Alaska, North Dakota, Louisiana, Oklahoma, Texas, West Virginia, and Wyoming are all states that will experience some amount of economic or fiscal fallout as a result of sustained low oil prices."

Outside those pockets, however, low oil and gas prices still provide an offset to sluggish wage growth and are, therefore, mildly beneficial for consumer spending trends. Given that services make up 80 percent of U. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.