The price of North Dakota oil will be slightly lower. North Dakota oil production is sold at a slight discount relative to West Texas Intermediate, factoring in the cost of transportation and refinery demand. The average discount in December was $6.61 per barrel according to North Dakota Pipeline Authority data.

The world is producing more oil than it needs, so 2026 prices are expected to be lower. The question is how low a barrel will get. “$50 to $60 range is what most are seeing. Now some are calling for prices to dip into the $40s,” said Garrett Golding with the Dallas Fed.

U.S. October oil production increased by 31 kb/d to 13,870 kb/d, another new record high. The largest increases came from the GOM and New Mexico, offset by a Texas drop. November production is expected to drop by 9 kb/d to 13,861 kb/d, according to the December STEO.

FORT STOCKTON, TEXAS - MARCH 24: The sun sets behind a pumpjack during a gusty night on March 24, 2024 in Fort Stockton, Texas. Employment in Texas has reached record highs, with the oil- and gas-producing Permian Basin, which covers a large swathe of west ...

When Youngstown / Warren Regional Chamber President and CEO Guy Coviello was asked if the amount of oil and gas produced in the third quarter of this year by a new horizontal oil and gas well in Ellsworth is good news for the area’s oil and gas industry,

Shale wells decline fast, forcing constant drilling—the “Red Queen” effect—with many losing 70–90% of output in three years. The IEA says global fields are depleting faster than thought, so most spending now just fights decline. The US oil ...

Wells drilled by Encino Acquisition Partners’ Ohio affiliate produced more than 1.5 million barrels of oil in 2024.

Horizontal drilling has helped Perman Basin oil output surge to over 6 million barrels a day and lifted U.S. output to a record 13.6 million barrels a day. But as production volumes have increased, so too has the volume of production declines from existing ...

Nigeria's state-owned NNPC reported an increase in crude oil production to 1.6 million barrels per day in November 2025 and saw a rise in profit and revenues, driven by recent government reforms aimed at boosting the upstream industry.

An increase in Venezuelan oil production wouldn’t much affect a dynamic already moving toward rising output and lower prices, according to Capital Economics.