North Dakota’s oil production fell 3.1 percent from December to January, and another 1.5 percent from January to February, according to statistics I compiled from the state, ahead of their monthly “Director’s Cut” report. Bakken is mostly in North Dakota—and North Dakota’s oil production is overwhelmingly from the Bakken. So Bakken and North Dakota are, for most intents and purposes, the same thing. So this means Bakken oil production has declined for two months in a row, and was running at a rate of 1.17 million barrels per day in February. (Remember, folks, you heard it here first.) The graph above shows my compilation of the North Dakota data—and for comparison, a year-and-a-half of the state’s own figures. For whatever reason, mine is consistently coming out a tad lower—about 0.6 percent lower, to be exact. Perhaps there are some small number of older wells that I’m missing. In any […]