Texas Petro Index declines for fourth straight month as production grows

The Texas Petro Index by petroleum economist Karr Ingham declined for the fourth straight month. After starting 2019 at 212.5, the index grew to 213.2 in February but declined to 212.4 in March, 212.1 in April, 210.1 in May and 207.1 in June. From a base of 100 in January 1995, the index reached a peak of 313.9 in November 2014 before falling to 146.6 in November 2016. Ingham’s index is based on a comprehensive set of industry indicators.
Ingham said in the past year, from June 2018 to June 2019, declines were posted in prices of crude oil and natural gas, rig counts, well completions and drilling permits, but production volumes of both crude oil and natural gas and employment were up.