North Dakota Oil Production Resilient Even as Prices Have Declined

(Photo by Kyle Martin/For the North Dakota Monitor)

(North Dakota Monitor) – North Dakota’s top oil regulator is pessimistic about oil prices for 2026 but says oil production should hold steady, due in part to new drilling technology companies are using to remain profitable.

“Every time somebody thinks that the industry is essentially kind of maxed out on their technical capabilities, they usually come through with some type of innovation,” said Nathan Anderson, director of the North Dakota Department of Mineral Resources.

North Dakota produced nearly 1.17 million barrels of oil per day in October, the most recent figure available. The market price of North Dakota crude oil averaged about $53 that month, close to the bare minimum producers need to make a profit and a drop of $14 per barrel since January.

“Operators generally have shut down or slowed down activity in the past at those levels,” Anderson said. “What we’re seeing now is these activity levels are continuing to maintain where they’re at in spite of that.”