State oil and gas officials comment on production, markets

BISMARCK, N.D. (KFYR) - North Dakota’s oil and gas production has remained steady, reporting more than 1.1 million barrels a day since 2024. While there’s uncertainty on the international level over prices, officials here say they don’t see it being a long-term problem right now.

The North Dakota Department of Mineral Resources said the WTI price has fallen since January, with it now being in the low 60s. Executive Director Nathan Anderson said the price is volatile due to tariffs and an increase in production from OPEC.

“I do expect prices to rebound slightly once all the sanctions and tariffs are better understood throughout the operating companies that work here in North Dakota,” said Anderson.

The Energy Information Administration’s oil price outlook shows WTI prices to hold at or below $60 as supply outweighs demand going forward.

Pipeline Authority Director Justin Kringstad said tariffs on liquefied natural gas won’t have an immediate impact on North Dakota’s production.

“North Dakota LNG and natural gas works its way through the Midwest and stays there. It’s other, more fringe areas of the continent that get waterborne and compete in that market space,” said Kringstad.

Kringstad said statewide oil production will not drop because of issues with the Keystone pipeline, which leaked near Fort Ransom earlier this month. He said the pipeline carries Canadian oil to refineries.

The state produced more than 1.1 million barrels of oil per day in February, down about 1% compared to January. Anderson attributes the number to the month having fewer days. Natural gas production had a similar drop, producing more than 3.2 billion cubic feet.