WATCH: East Texas native, nationally known economist Perryman talks about oil prices

ETN: Economist Dr. Ray Perryman about the oil price crash and what happens next

TYLER, Texas (KLTV/KTRE) - Dr. Ray Perryman, a nationally known economist, appeared on East Texas Now Tuesday to explain why the oil industry has bottomed out and what the future of the economy holds.

Perryman explained the demand for oil worldwide has decreased 25 percent and created a storage issue for oil.

Perryman said the economy has a better chance at recovery due to it coming from a health crisis rather than an economic issue.

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