North Dakota crude sees record production drop

摘要

CRUDE output from the oil-rich US state of North Dakota fell by a record-setting 30% from April to May to hit the lowest monthly production figures since June 2013. The state, home to the Bakken shale formation, produced 858,395 barrels per day of crude in May compared to more than 1.22 million bpd in April - the largest month-to-month decline on record for North Dakota. Natural gas production also fell by almost 30% to 1.93 billion cubic feet per day, according to preliminary numbers released late last week by the North Dakota Department of Mineral Resources (DMR). The precipitous drop follows the fallout of the Covid-19 pandemic on global crude demand and subsequent oil price crash.