Are you curious about the price paid for North Dakota oil compared to that paid for the "gold standard," west Texas crude? If you are curious, click here. It sounds like North Dakota oil is priced about the same as west Texas crude (see "spot price of oil" in the sidebar to the right); the only difference appears to be the cost to ship the oil to Cushing, Oklahoma.
The shipping cost for North Dakota oil should go down this year based on improved capacity, but I doubt this will last long if more pipelines are not put in. Production and transport capacity should balance out this year at about 400,000 barrels/day.
The New York Mercantile Exchange (NYMEX) contract for oil is based on the price of west Texas crude.
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