• 4 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 7 minutes Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 13 minutes NordStream2
  • 15 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 13 hours California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 15 hours "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 48 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 1 day U.S. : Employers Can Buy Retirement Security for $2.64 an Hour
  • 1 day Nord Stream - US/German consultations
  • 3 days An Indian Opinion on What is Going on in China
  • 4 days Can Technology Keep Coal Plants Alive and Well?
  • 5 days Succession Planning in Human Resources for Vaccinated Individuals in the Oil & Gas Industry
  • 18 hours Forecasts for Natural Gas
  • 1 day Australia sues Neoen for lack of power from its Tesla battery
  • 4 days Storage of gas cylinders
  • 5 days Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
U.S. Shale Giant Says OPEC Controls Oil Prices

U.S. Shale Giant Says OPEC Controls Oil Prices

Unlike in previous years, the…

OPEC Cuts 2021 Oil Demand Forecast

OPEC Cuts 2021 Oil Demand Forecast

In this month’s report, OPEC…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Premium Content

North Dakota Will Not Impose Oil Production Cuts

North Dakota’s oil regulators decided on Tuesday not to impose any oil production restrictions amid the coronavirus pandemic, The Bismarck Tribune reported.

North Dakota follows Texas and Oklahoma in deciding not to mandate proration. Instead, they will let the market decide for itself how much oil should be produced.

In May this year, the Railroad Commission of Texas voted against the idea of pro-rationing production in Texas after Ryan Sitton, the Commissioner who first floated the idea, failed to convince his two co-commissioners that mandatory cuts were essential.

Now the North Dakota Industrial Commission unanimously rejected this week the idea of pro-rationing, as many producers and mineral owners from the Fort Berthold Indian Reservation opposed the idea of mandatory production cuts.

“Let’s let the private sector hammer out some of these things and where government can assist and intervene we’ll do so, but it’s probably best if we don’t go down this road,” state Agriculture Commissioner Doug Goehring, who sits on the three-person North Dakota Industrial Commission, said

While North Dakota’s oil producers were grappling with low oil prices, they suddenly faced this week a new major hurdle to their plans after a federal judge vacated authorization for the Dakota Access Pipeline – operational since 2017 – and ordered it shut within 30 days.  Related: China Inks Military Deal With Iran Under Secretive 25-Year Plan

If Dakota Access is shut down pending a new environmental impact assessment, it could stifle the Bakken oil industry in North Dakota. 

According to The Bismarck Tribune, North Dakota state officials are concerned that if Dakota Access shut down, the Bakken crude could lose value, and some producers might leave the state. 

“In North Dakota alone, the oil industry provides more than 50% of all state tax revenues and supports over 55,000 jobs. This order will directly harm North Dakota’s economy and its citizens,” Ron Ness, President of the North Dakota Petroleum Council, said, commenting on the court order. 

“Shutting down the pipeline will cut off North Dakota oil producers from the safest, most reliable and economic method of transporting our high-quality Bakken oil to the best markets in the country. Increased rail traffic will impact North Dakota and regional farmers by creating rail capacity issues as harvest season ramps-up this fall,” Ness added. 

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News