Oil Production Decent for March, Following February Setback

New today: The North Dakota Department of Mineral Resources released oil and gas production numbers for March.

Director, Lynn Helms says oil production was pretty good in March, after a slight setback in February due to weather. 

Helms expects April’s numbers to be back up, and breaking more records. 

He says oil prices are relatively strong but have been volatile in the last few days. He says it’s due to Chinese tariffs, Iran sanctions, and the attacks on crude oil tankers in the Arabian Gulf. Which he says leaves some uncertainty. 

The North Dakota Department of Mineral Resources Director adds, “I don’t think anyone really knows what to expect in terms of oil prices, except likely, higher.”

Helms says natural gas prices are weak. He expects they’ll be that way at least until the end of the year when new natural gas infrastructure is up and running.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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