Oil Production Exceeds Forecast

The Associated Press is reporting today that the state's oil production and prices are exceeding the forecasts contained in the two-year budget recently passed by the North Dakota legislature. The forecasts were for current production to be approximately 200,000 barrels a day with prices ranging between $40 and $50 per barrel. For October, the most recent period for which figures are available, production was 240,000 barrels per day with prices in the $67 per barrel range.