Oklahoma state Treasurer Ken Miller says the state's 20-month string of shrinking revenue collections ended last month.
Receipts to the state treasury in January totaled about $990 million, $5.1 million more than January 2016. Miller says the increase was driven largely by increasing oil and natural gas revenue.
Oil and natural gas collections in January totaled $33.1 million, $7.8 million more than the prior year and the fourth consecutive month of increased oil and gas revenue. Oil field collections in January come from field activity in November, when the average price of crude oil was about $46 per barrel. The current price is about $52 a barrel.
Gross receipts for the past 12 months total almost $11 billion — about $712 million less than collections from the previous 12-month period.