Bakken output to plunge without OPEC cut

摘要

North Dakota's rig count will likely quickly plunge by 40% and Bakken production will fall by more than 100,000 b/d if OPEC members do not extend their 1.2 million b/d production cut into the second half of this year, Lynn Helms, the state's top oil and gas regulator said Friday. "That really put things in neutral again," Helms said. Analysts expect OPEC to roll over their production cut agreement for another six months when it meets on May 25.