Home / News / Bakken News / Bakken Price Weakens After North Dakota Production Hits New High
Bakken Oil Boom

Bakken Price Weakens After North Dakota Production Hits New High

Bakken crude on the spot market

weakened against West Texas Intermediate as North Dakota
regulators said production from the state’s portion of the field
increased to a new high in May.

North Dakota’s Bakken field produced 745,399 barrels of
crude a day, according to preliminary data from the state’s
Industrial Commission. That’s up 2.4 percent from April and 29
percent from May 2012.

Nominations for Enbridge Inc. (ENB)’s Line 81, which can carry
210,000 barrels a day from North Dakota into Clearbrook,
Minnesota, exceeded capacity for the first time this year for
July shipments, Larry Springer, a Houston-based spokesman, said
by e-mail.

Bakken crude priced in Clearbrook weakened by $1.75 to a
discount of $3.50 a barrel against WTI at 12:13 p.m., according
to data compiled by Bloomberg. It’s the widest discount since
June 5.

popular posts

Leave a Reply

Your email address will not be published. Required fields are marked *

*