Iran Nuclear Deal Could Have Big Impact On Oklahoma Business

Wednesday, May 9th 2018, 5:43 pm
By: News On 6

One of Northeast Oklahoma's largest industries could take a hit after the United States pulled out of the Iran nuclear deal.

Airplane maker Boeing, which employs thousands in Oklahoma, has nearly 20 billion dollars in deals with Iran's state airliner.

"Following [the] announcement, we will consult with the U.S. Government on next steps.  As we have throughout this process, we'll continue to follow the U.S. Government's lead." Boeing said in a statement Wednesday.

Energy Economists like Steve Agee say the uncertainty of how Iran will react could also create turmoil for Oklahoma oil producers.

“You might see some spikes up or down in the oil markets in the next few weeks but I think over time you will see increases in prices next year. It’s not going to bottom out but it’s probably going to moderate it and maybe even fall off a little bit as supplies are brought to the market.”

Since President's announcement, Tuesday oil prices have already hit a four-year high.