The “Economic Miracle State” of North Dakota pumped another record amount of oil during the month of May at a rate of almost640,000 barrels per day, which was an increase of 4.9% compared to oil production in April (see chart above). North Dakota’s record-setting oil output in May was noteworthy for several reasons:
1) The year-over-year increase in oil production of 75.5% in May was the largest annual gain in state history.
2) North Dakota produced 17% more oil than Alaska in May, marking the third consecutive month that North Dakota out-produced Alaska. The Peace Garden State surpassed Alaska’s oil production for the first time in March to become the country’s new No. 2 oil state, behind only Texas. . . .
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