ND oil production drops below 1 million barrels a day
In this Tuesday, May 18, 2021, photo, flares burn natural gas from oil production in the Fort Berthold Indian Reservation east of New Town, North Dakota. Oil pumped from Native American lands in the U.S. increased about tenfold since 2009 to more than 130 million barrels annually, bringing new wealth to a small number of tribes. Tribes left out of the drilling boom have become increasingly outspoken against fossil fuels as climate change's impacts grow worse. (Matthew Brown/Associated Press)
A new report from the North Dakota Department of Mineral Resources shows the state's oil production has dipped below 1 million barrels a day.
North Dakota pumped about 900,600 barrels of oil each day in April, a decrease of 20% from the previous month.
The state's all-time high in oil production came in November 2019 when the state produced more than 1.5 million barrels a day.
This week, 40 rigs are actively drilling in North Dakota, an increase from April when 38 rigs were drilling. The state had an all-time high of 218 rigs drilling on May 29, 2012.
State mineral resources director Lynn Helms said the drilling rig count is slowly increasing, Minot Daily News reported.
He said OPEC+ continues to phase out oil production cuts that began last September 2021 and expected to run through the end of the third quarter of 2022. At its June meeting, OPEC+ decided to increase production about 680,000 barrels per day in July and increase prices.
"Russia sanctions have exacerbated an already tight market. The strategic petroleum reserve releases by OECD (Organization for Economic Co-operation and Development) countries resulted in a very short-term drop of oil prices," Helms said.
President Joe Biden confirmed this week that he will visit Saudi Arabia next month for talks with its leaders, a dramatic change in his stance on the kingdom that he pledged to make a "pariah" as a Democratic candidate for the White House.
Biden is looking to reset the relationship at a time when the U.S. could use help from the oil-rich kingdom to alleviate soaring prices at the pump for motorists at home and around the globe.