Through changes by the Legislature, and the change in services considered essential to the public welfare, the commission presently regulates public utilities, oil and gas industry (exploration, drilling, production and waste disposal), motor carrier transport, and petroleum products industry (transportation, storage, quality and dispensing).

The commission also oversees the conservation of natural resources, avoiding waste production, abate pollution of the environment, and balancing the rights and needs of the people of Oklahoma with those of the regulated entities.

Former Oklahoma Secretary of State, Senator, and House Member Brian Bingman won the 2024 Corporation Commissioner statewide vote.

[7] His term will commence on January 13, 2025, replacing longtime and longest running incumbent Corporation Commissioner in US history, Bob Anthony.

Commissioner Anthony could not rerun for office due to the 12-year term limit enacted in 2010 after voters approved Oklahoma State Question 747.