By Dave Thompson

BISMARCK, N.D. (Prairie Public Radio) – North Dakota’s budget director says the next executive revenue forecast should be ready early in September.

State OMB director Joe Morrissette told the Legislature’s Budget Section the state’s budget consultant, Moody’s Analytics, is looking at the tax collection data, and will have some preliminary recommendations for an August meeting of the Revenue Advisory Committee. Morrissette says comments from that committee will be taken into account as the forecast is prepared.

Meanwhile, Morrissette told the Committee July was a positive month for tax collections.

Morrissette said oil production is also on its way back. He says the July numbers won’t become official until September, but it appears production is back up to 1.2 million barrels a day, and the price for Bakken crude is around $32 to $33 a barrel.