Among Top Oil U.S. Oil Producers, North Dakota’s Retreat Is Fastest
North Dakota produces more crude oil per capita than other any large oil-producing state in the country, including nearly 10 times more than Texas. So on Friday, when the state released new oil production data for May, it hurt.
Between January and May North Dakota’s crude oil production plummeted 40%, according to data released late last week by the state, outpacing the 10% overall decline in U.S. production over the same period.
The size of the drop in the state’s production — from 1.4 million barrels per day (b/d) at the start of the year to 860,000 b/d by May — could exceed the oil production decline in Texas in both percentage terms and outright, even though Texas produces four times more oil.
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Source: Forbes
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