Data published by the North Dakota Industrial Commission’s Department of Mineral Resources (DMR) showed a 48,305 barrel-a-day decline in the state’s production for the month of December. The report attributed the production decline primarily to the severe winter weather that hit the state at the end of last year. According to the DMR, the state experienced low temperatures of 21 to 31 degrees below zero, four major snow storms and five major wind storms in December. Oil production for November had climbed by 31,278 barrels a day to 911,292 barrels a day, for a 3.6% increase over October’s level. The production drop in December was 5.3%. The production decline, which was clearly impacted by weather, may also be demonstrating that there is a fundamental slowing in output and activity underway, which is not a good omen for the future for […]