An oil rig in North Dakota
Bakken’s best oil days may have passed
Output from the mature play has not bounced back as expected from Covid-19
The Biden administration has taken a lot of criticism for the relative lack of recovery in US oil production since the pandemic slump in the first half of 2020, especially with Russia’s invasion of Ukraine in late February propelling North American benchmark WTI above $100/bl for several months. However, in the case of tight oil from the Bakken, factors beyond pro-climate and anti-hydrocarbons policies have played a far greater role in its lacklustre performance. Bakken oil production will range between 1.1mn bl/d and 1.35mn bl/d from 2022 to 2028, according to Nathan Nemeth, principal research analyst for global unconventional plays at consultancy Wood Mackenzie. Production collapsed to 860
Also in this section
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
22 January 2026
As Saudi Arabia pushes mining as a new pillar of its economy, Saudi Aramco is positioning itself at the intersection of hydrocarbons, minerals and industrial policy
22 January 2026
New long-term deal is latest addition to country’s rapidly evolving supply portfolio as it eyes role as regional gas hub
