OIL COMPANIES IN THE BAKKEN KEEP WORKING DESPITE LOW PRICES

January, 2016

The federal government late in the week estimated U.S. oil stocks at the highest point in 80 years. That’s bad news for the area formerly known “Saudi Arabia” of American oil, an area where higher-than-average production costs and long distances to market make the current pinch of low oil prices pretty painful. A barrel of West Texas Intermediate crude was selling for $32 Friday, after falling to $28 midweek. Yet oil production keeps on pumping for several reasons.

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