Texas Petro Index sets record for 7th straight month

Matt Zborowski Staff Writer The Texas Petro Index (TPI), a composite index based on a comprehensive group of upstream economic indicators released by the Texas Alliance of Energy Producers (TAEP), continued to produce record highs last month amid an "economic tsunami." The June index reached 308.4, up 7.4% compared with June 2013. It was the seventh straight monthly increase and 18th rise in the past 19 months. Crude production in Texas totaled 89.75 million bbl, 24.2% higher than the previous June. The value of Texas-produced crude oil totaled more than $9.1 billion, 37.1% more than the previous June. During this year's first half, producers recovered 519.1 million bbl of oil, ...

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