Oasis Petroleum Inc has begun to wind down all drilling in the Bakken, three sources familiar with the matter said on Tuesday, as production cuts intensify across the United States the aftermath of a historic plunge in crude oil prices.
) has begun to wind down all drilling in the Bakken, three sources familiar with the matter said on Tuesday, as production cuts intensify across the United States the aftermath of a historic plunge in crude oil prices.
Oil producers across the country have scrambled to slash output and shut-ins have been particularly swift in North Dakota, which produced more than 1.4 million barrels per day of oil in 2019. North Dakota regulators plan on May 20 to consider whether oil production at low prices represents a waste of resources, according to a notice published by the North Dakota Industrial Commission.
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