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North Dakota Oil Output Drops Further on Cold

OIL

North Dakota oil output has further declined by 600-650kbpd due to the ongoing cold spell, Justin Kringstad, director of state’s pipeline authority, said, cited by Bloomberg.

  • The pipeline authority reported on Monday output in the region fell by as much as 425kbpd.
  • Kringstad added that temperatures are expected to become warmer rapidly and most lost production should be restored over the next week.
  • The associated wellhead natural gas production is down by 1.6 bcf/d and 1.8 bcf/d.

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