State’s production falls to lowest level since March 2014 Regulator says slowdown to continue through next year North Dakota oil production dropped below one million barrels a day in August for the first time in more than two years as depressed prices forced explorers to cut back. Production from the state’s portion of the Williston Basin fell to 981,000 barrels a day, the lowest since March 2014, according to a report by the North Dakota Pipeline Authority. The state’s crude output has shrunk from a peak of more than 1.23 million barrels a day in December of that year. “It does send a signal to the world markets that U.S. producers are serious about reducing activity, reducing costs, reducing production and I think that should help support the recent price increase we saw,” Lynn Helms, director of state’s Department of Mineral Resources, said in a call with reporters. The […]