From S&P Global Platts: North Dakota oil output growth to improve moderately on OPEC + cuts -- state regulator. From the linked article:
Without a deeper OPEC+ cut, North Dakota production, which set a record of 1.52 million b/d in October, would likely have "flat lined" throughout 2020, Lynn Helms, director of North Dakota's Department of Mineral Resources, told reporters Friday.
Helms said that the decision will likely lead to an increase in capital available to producers.
"It was going to be a struggle just to match this 1.5 million b/d," Helms said. The OPEC+ decision "should result in small increments of production growth through the year 2020."
North Dakota's oil output in October was up more than 74,500 b/d from September and more than 37,300 b/d from August, when the previous monthly record was set.
Roughly 72% of oil produced in October was shipped out of the state by pipeline, 16% was shipped out by rail, 6% was trucked or railed to Canada, and 6% was refined in state, the North Dakota Pipeline Authority said Friday.
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